Watts Water Technologies (NYSE:WTS) Issues Earnings Results

Watts Water Technologies (NYSE:WTS) issued its earnings results on Wednesday. The technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.22, Briefing.com reports. The company had revenue of $570.90 million for the quarter, compared to analyst estimates of $547.20 million. Watts Water Technologies had a net margin of 12.75% and a return on equity of 19.38%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Performance

WTS traded down $3.96 during trading hours on Thursday, reaching $208.28. The company’s stock had a trading volume of 113,823 shares, compared to its average volume of 127,902. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.61. The company’s 50-day moving average is $205.02 and its 200-day moving average is $199.70. Watts Water Technologies has a 52 week low of $156.85 and a 52 week high of $219.52. The firm has a market cap of $6.94 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.

Watts Water Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.43 dividend. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies’s dividend payout ratio is currently 18.41%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WTS shares. Stifel Nicolaus increased their price target on shares of Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Robert W. Baird increased their target price on shares of Watts Water Technologies from $191.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $195.25.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $202.11, for a total value of $307,207.20. Following the transaction, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Virginia A. Halloran sold 1,520 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $202.11, for a total transaction of $307,207.20. Following the transaction, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at $2,994,865.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Timothy P. Horne sold 764 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $199.00, for a total value of $152,036.00. Following the completion of the sale, the insider now owns 14,236 shares of the company’s stock, valued at $2,832,964. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,113 shares of company stock worth $1,023,106. 1.10% of the stock is owned by insiders.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.