Analysts Issue Forecasts for Watts Water Technologies Inc’s FY2018 Earnings (WTS)
Watts Water Technologies Inc (NYSE:WTS) – Analysts at Seaport Global Securities issued their FY2018 earnings per share (EPS) estimates for shares of Watts Water Technologies in a research report issued to clients and investors on Tuesday, December 4th. Seaport Global Securities analyst W. Liptak expects that the technology company will post earnings per share of $3.73 for the year. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Watts Water Technologies’ Q4 2018 earnings at $0.85 EPS, Q1 2019 earnings at $0.88 EPS, Q2 2019 earnings at $1.12 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.04 EPS and FY2019 earnings at $4.15 EPS.
A number of other analysts also recently weighed in on the company. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Sunday, November 4th. Boenning Scattergood reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Monday, November 5th. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Finally, ValuEngine downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $90.80.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Friday, November 2nd. The technology company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $390.90 million during the quarter, compared to the consensus estimate of $380.00 million. Watts Water Technologies had a return on equity of 14.43% and a net margin of 6.05%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS.
Several institutional investors have recently bought and sold shares of WTS. Vanguard Group Inc. increased its holdings in Watts Water Technologies by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,767,832 shares of the technology company’s stock worth $229,730,000 after purchasing an additional 45,313 shares in the last quarter. Morgan Stanley increased its holdings in Watts Water Technologies by 54.0% in the 3rd quarter. Morgan Stanley now owns 211,625 shares of the technology company’s stock worth $17,565,000 after purchasing an additional 74,235 shares in the last quarter. Legal & General Group Plc increased its holdings in Watts Water Technologies by 7.5% in the 3rd quarter. Legal & General Group Plc now owns 64,692 shares of the technology company’s stock worth $5,364,000 after purchasing an additional 4,524 shares in the last quarter. Nordea Investment Management AB increased its holdings in Watts Water Technologies by 35.5% in the 3rd quarter. Nordea Investment Management AB now owns 54,239 shares of the technology company’s stock worth $4,502,000 after purchasing an additional 14,218 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Watts Water Technologies by 9.1% in the 3rd quarter. Teachers Advisors LLC now owns 74,797 shares of the technology company’s stock worth $6,208,000 after purchasing an additional 6,257 shares in the last quarter. 76.07% of the stock is owned by institutional investors.
In other news, Director Joseph T. Noonan sold 2,653 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $76.00, for a total transaction of $201,628.00. Following the completion of the transaction, the director now owns 2,109 shares of the company’s stock, valued at approximately $160,284. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elie Melhem sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $74.42, for a total value of $74,420.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.18%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 27.81%.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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