Watts Water Technologies (NYSE:WTS) Posts Earnings Results, Beats Expectations By $0.19 EPS

Watts Water Technologies (NYSE:WTSGet Free Report) announced its quarterly earnings results on Monday. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.78 by $0.19, Briefing.com reports. Watts Water Technologies had a return on equity of 19.22% and a net margin of 13.68%. The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $532.58 million. During the same quarter in the prior year, the company posted $1.60 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis.

Watts Water Technologies Price Performance

WTS stock opened at $218.07 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.74 and a quick ratio of 1.72. The firm has a market capitalization of $7.27 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.29 and a beta of 0.95. The business’s 50-day moving average is $202.68 and its two-hundred day moving average is $189.88. Watts Water Technologies has a 1 year low of $153.25 and a 1 year high of $219.52.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, February 29th. Watts Water Technologies’s dividend payout ratio is currently 17.56%.

Institutional Investors Weigh In On Watts Water Technologies

A number of hedge funds have recently bought and sold shares of the stock. Orion Portfolio Solutions LLC acquired a new stake in Watts Water Technologies in the 4th quarter valued at about $345,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Watts Water Technologies during the 4th quarter worth about $297,000. American Century Companies Inc. raised its position in shares of Watts Water Technologies by 32.2% during the 3rd quarter. American Century Companies Inc. now owns 17,975 shares of the technology company’s stock worth $3,106,000 after acquiring an additional 4,381 shares in the last quarter. Creative Planning raised its position in shares of Watts Water Technologies by 15.6% during the 3rd quarter. Creative Planning now owns 3,606 shares of the technology company’s stock worth $623,000 after acquiring an additional 487 shares in the last quarter. Finally, Toroso Investments LLC raised its position in shares of Watts Water Technologies by 9.5% during the 3rd quarter. Toroso Investments LLC now owns 2,704 shares of the technology company’s stock worth $467,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WTS. TD Cowen increased their target price on Watts Water Technologies from $165.00 to $175.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 5th. Stifel Nicolaus increased their target price on Watts Water Technologies from $198.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, December 19th. Finally, StockNews.com lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th.

View Our Latest Stock Analysis on Watts Water Technologies

Watts Water Technologies Company Profile

(Get Free Report)

Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.

See Also

Earnings History for Watts Water Technologies (NYSE:WTS)

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