Watts Water Technologies, Inc. (NYSE:WTS) Forecasted to Post Q3 2022 Earnings of $1.58 Per Share – MarketBeat

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Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) – Oppenheimer raised their Q3 2022 earnings per share (EPS) estimates for Watts Water Technologies in a note issued to investors on Tuesday, October 18th. Oppenheimer analyst B. Blair now forecasts that the technology company will post earnings per share of $1.58 for the quarter, up from their prior forecast of $1.55. The consensus estimate for Watts Water Technologies’ current full-year earnings is $6.78 per share. Oppenheimer also issued estimates for Watts Water Technologies’ FY2022 earnings at $6.75 EPS.
Several other research analysts have also commented on WTS. Cowen dropped their price target on Watts Water Technologies from $130.00 to $120.00 in a research report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Watts Water Technologies in a research note on Wednesday, August 17th. They issued a “buy” rating and a $192.00 price objective for the company. Cowen decreased their price target on shares of Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Northcoast Research assumed coverage on shares of Watts Water Technologies in a research note on Friday, July 15th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus reduced their price objective on shares of Watts Water Technologies from $133.00 to $132.00 and set a “hold” rating for the company in a research note on Tuesday, October 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and an average target price of $142.20.

Watts Water Technologies Trading Down 1.6 %

WTS opened at $130.27 on Thursday. The firm has a market cap of $4.36 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.39 and a beta of 0.97. Watts Water Technologies has a 12 month low of $116.31 and a 12 month high of $212.00. The company has a current ratio of 2.30, a quick ratio of 1.27 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $135.94 and a 200 day moving average of $132.20.
Watts Water Technologies (NYSE:WTS – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.48. The firm had revenue of $526.60 million during the quarter, compared to analyst estimates of $488.73 million. Watts Water Technologies had a return on equity of 18.95% and a net margin of 10.98%.

Institutional Trading of Watts Water Technologies

Several large investors have recently bought and sold shares of the business. State Street Corp grew its stake in Watts Water Technologies by 0.8% during the 1st quarter. State Street Corp now owns 865,509 shares of the technology company’s stock valued at $120,816,000 after acquiring an additional 6,863 shares in the last quarter. Invesco Ltd. grew its stake in Watts Water Technologies by 25.2% during the 1st quarter. Invesco Ltd. now owns 691,779 shares of the technology company’s stock valued at $96,565,000 after acquiring an additional 139,042 shares in the last quarter. Mirova US LLC grew its stake in Watts Water Technologies by 6.3% during the 2nd quarter. Mirova US LLC now owns 648,600 shares of the technology company’s stock valued at $79,674,000 after acquiring an additional 38,553 shares in the last quarter. Victory Capital Management Inc. grew its stake in Watts Water Technologies by 89.5% during the 2nd quarter. Victory Capital Management Inc. now owns 566,767 shares of the technology company’s stock valued at $69,622,000 after acquiring an additional 267,654 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Watts Water Technologies by 29.0% in the 1st quarter. Northern Trust Corp now owns 455,323 shares of the technology company’s stock valued at $63,558,000 after buying an additional 102,485 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 240 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $149.33, for a total value of $35,839.20. Following the sale, the insider now directly owns 12,063 shares of the company’s stock, valued at $1,801,367.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 31st. Watts Water Technologies’s payout ratio is 19.26%.

About Watts Water Technologies

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Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company 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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