Q3 2019 EPS Estimates for Watts Water Technologies Inc (WTS) Raised by Northcoast Research

Watts Water Technologies Inc (NYSE:WTS) – Equities researchers at Northcoast Research raised their Q3 2019 earnings estimates for Watts Water Technologies in a report released on Monday, September 24th. Northcoast Research analyst A. Cohen now expects that the technology company will post earnings per share of $1.09 for the quarter, up from their previous forecast of $1.01. Northcoast Research has a “Buy” rating and a $105.00 price objective on the stock. Northcoast Research also issued estimates for Watts Water Technologies’ Q4 2019 earnings at $1.08 EPS.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Saturday, July 7th. ValuEngine raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Seaport Global Securities reaffirmed a “hold” rating and set a $83.00 target price on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $82.00 target price on shares of Watts Water Technologies in a research note on Friday, July 20th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Watts Water Technologies has an average rating of “Hold” and an average target price of $85.33.

Shares of WTS stock opened at $82.55 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Watts Water Technologies has a 12 month low of $66.40 and a 12 month high of $93.35. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.88 and a beta of 1.04.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Watts Water Technologies had a net margin of 5.83% and a return on equity of 13.88%. The company had revenue of $407.90 million for the quarter, compared to the consensus estimate of $403.60 million. During the same period in the previous year, the firm earned $0.83 earnings per share. Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, August 30th. Watts Water Technologies’s dividend payout ratio is presently 27.81%.

In other Watts Water Technologies news, insider Elie Melhem sold 3,910 shares of Watts Water Technologies stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $82.32, for a total transaction of $321,871.20. Following the completion of the sale, the insider now directly owns 22,991 shares in the company, valued at $1,892,619.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert J. Pagano, Jr. sold 11,040 shares of Watts Water Technologies stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $85.36, for a total transaction of $942,374.40. Following the sale, the insider now owns 116,545 shares of the company’s stock, valued at $9,948,281.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,266 shares of company stock valued at $2,661,929. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Watts Water Technologies by 9.3% in the second quarter. BlackRock Inc. now owns 4,546,758 shares of the technology company’s stock valued at $356,466,000 after purchasing an additional 385,696 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Watts Water Technologies by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,014,445 shares of the technology company’s stock valued at $78,822,000 after purchasing an additional 9,713 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Watts Water Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 952,176 shares of the technology company’s stock valued at $73,984,000 after purchasing an additional 3,219 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Watts Water Technologies by 0.4% in the second quarter. Victory Capital Management Inc. now owns 866,469 shares of the technology company’s stock valued at $67,931,000 after purchasing an additional 3,253 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Watts Water Technologies by 6.3% in the second quarter. Voya Investment Management LLC now owns 795,050 shares of the technology company’s stock valued at $62,332,000 after purchasing an additional 46,961 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Watts Water Technologies Company Profile

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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Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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