Boenning Scattergood Brokers Increase Earnings Estimates for Watts Water Technologies, Inc. (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Stock analysts at Boenning Scattergood lifted their Q4 2017 EPS estimates for Watts Water Technologies in a report released on Thursday. Boenning Scattergood analyst R. Connors now expects that the technology company will post earnings per share of $0.81 for the quarter, up from their previous forecast of $0.73. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Watts Water Technologies’ Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.85 EPS and FY2018 earnings at $3.35 EPS.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The company had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 1.9% on a year-over-year basis.
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Several other research analysts also recently weighed in on WTS. Robert W. Baird lifted their target price on Watts Water Technologies from $71.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. Seaport Global Securities restated a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. Stifel Nicolaus restated a “buy” rating and issued a $79.00 price target on shares of Watts Water Technologies in a research note on Friday, November 3rd. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.83.
Shares of Watts Water Technologies (WTS) traded up $0.15 during mid-day trading on Monday, hitting $68.35. The company’s stock had a trading volume of 183,877 shares, compared to its average volume of 117,786. Watts Water Technologies has a one year low of $59.15 and a one year high of $71.05. The stock has a market cap of $2,358.97, a P/E ratio of 23.63, a P/E/G ratio of 1.91 and a beta of 1.12. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after purchasing an additional 3,541,642 shares during the last quarter. Vanguard Group Inc. increased its stake in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after purchasing an additional 205,883 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Watts Water Technologies by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 953,898 shares of the technology company’s stock valued at $60,286,000 after purchasing an additional 30,001 shares during the last quarter. Victory Capital Management Inc. increased its stake in Watts Water Technologies by 29.0% in the third quarter. Victory Capital Management Inc. now owns 771,208 shares of the technology company’s stock valued at $53,367,000 after purchasing an additional 173,225 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after purchasing an additional 67,767 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
In other news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.19 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.11%. Watts Water Technologies’s dividend payout ratio (DPR) is 28.15%.
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.
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