Northcoast Research Comments on Watts Water Technologies, Inc.’s Q1 2018 Earnings (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Research analysts at Northcoast Research increased their Q1 2018 earnings per share estimates for shares of Watts Water Technologies in a note issued to investors on Monday. Northcoast Research analyst A. Cohen now expects that the technology company will earn $0.74 per share for the quarter, up from their previous estimate of $0.72. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Watts Water Technologies’ Q2 2018 earnings at $0.88 EPS and FY2018 earnings at $3.29 EPS.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. Watts Water Technologies’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. COPYRIGHT VIOLATION WARNING: This story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.watchlistnews.com/northcoast-research-comments-on-watts-water-technologies-inc-s-q1-2018-earnings-wts/1573034.html.
Several other analysts have also recently issued reports on WTS. Stifel Nicolaus began coverage on Watts Water Technologies in a report on Monday. They set a “buy” rating and a $72.00 price objective on the stock. Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. BidaskClub cut Watts Water Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $69.00.
Shares of Watts Water Technologies (WTS) opened at 66.90 on Tuesday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 26.13 and a beta of 1.06. The company has a 50-day moving average of $63.43 and a 200-day moving average of $62.73. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. Watts Water Technologies’s dividend payout ratio (DPR) is 29.69%.
In other news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the sale, the insider now directly owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC raised its holdings in Watts Water Technologies by 44.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after buying an additional 532 shares during the period. Acrospire Investment Management LLC raised its holdings in Watts Water Technologies by 157.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock valued at $114,000 after buying an additional 1,100 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after buying an additional 17 shares during the period. Bruderman Asset Management LLC purchased a new stake in Watts Water Technologies during the 2nd quarter valued at $130,000. Finally, Bank of Montreal Can raised its holdings in Watts Water Technologies by 8.8% during the 1st quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares during the period. Institutional investors own 77.64% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
Receive News & Ratings for Watts Water Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.