Seaport Res Ptn Has Bullish Estimate for WTS FY2024 Earnings

Watts Water Technologies, Inc. (NYSE:WTS) – Stock analysts at Seaport Res Ptn raised their FY2024 EPS estimates for shares of Watts Water Technologies in a report issued on Tuesday, November 5th. Seaport Res Ptn analyst W. Liptak now forecasts that the technology company will earn $8.75 per share for the year, up from their previous estimate of $8.65. The consensus estimate for Watts Water Technologies’ current full-year earnings is $8.72 per share. Seaport Res Ptn also issued estimates for Watts Water Technologies’ Q4 2024 earnings at $1.93 EPS, Q1 2025 earnings at $2.18 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.14 EPS and FY2025 earnings at $9.01 EPS.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.83 million. During the same quarter in the prior year, the company earned $2.04 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis.

Other analysts have also issued reports about the stock. Robert W. Baird reduced their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus cut their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Monday, November 4th. Finally, StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Watts Water Technologies has an average rating of “Hold” and an average target price of $200.25.

Watts Water Technologies Stock Up 0.7 %

Shares of Watts Water Technologies stock opened at $208.59 on Friday. Watts Water Technologies has a 1 year low of $175.37 and a 1 year high of $219.52. The company has a market cap of $6.95 billion, a P/E ratio of 25.01, a P/E/G ratio of 3.04 and a beta of 0.90. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $201.10 and a 200 day moving average price of $197.32.

Hedge Funds Weigh In On Watts Water Technologies

Several large investors have recently bought and sold shares of WTS. HWG Holdings LP acquired a new position in shares of Watts Water Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in shares of Watts Water Technologies during the 3rd quarter worth about $30,000. Gradient Investments LLC acquired a new stake in shares of Watts Water Technologies during the 2nd quarter valued at about $31,000. Blue Trust Inc. increased its stake in Watts Water Technologies by 520.5% in the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after acquiring an additional 229 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Watts Water Technologies in the first quarter worth about $53,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the sale, the director now directly owns 2,755 shares in the company, valued at approximately $512,237.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Elie Melhem sold 1,710 shares of Watts Water Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,999 shares of company stock worth $7,299,786 in the last 90 days. 1.10% of the stock is owned by insiders.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, November 29th. Watts Water Technologies’s dividend payout ratio is 20.62%.

About Watts Water Technologies

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.