Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) – Analysts at Oppenheimer boosted their FY2022 earnings estimates for shares of Watts Water Technologies in a research report issued on Thursday, January 26th. Oppenheimer analyst B. Blair now anticipates that the technology company will post earnings per share of $7.10 for the year, up from their prior estimate of $7.08. The consensus estimate for Watts Water Technologies’ current full-year earnings is $7.08 per share. Oppenheimer also issued estimates for Watts Water Technologies’ Q4 2022 earnings at $1.57 EPS, Q1 2023 earnings at $1.57 EPS, Q2 2023 earnings at $2.02 EPS and Q3 2023 earnings at $1.84 EPS.
WTS has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on shares of Watts Water Technologies from $129.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. StockNews.com cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 6th. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $145.00 to $146.00 and gave the stock a “hold” rating in a research note on Friday, January 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Watts Water Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $155.00 to $150.00 in a report on Tuesday, January 10th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $135.80.
Watts Water Technologies Price Performance
Watts Water Technologies stock opened at $157.00 on Friday. Watts Water Technologies has a 1 year low of $116.31 and a 1 year high of $160.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.47. The company’s fifty day moving average price is $151.78 and its 200 day moving average price is $142.17. The stock has a market capitalization of $5.23 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.88 and a beta of 1.01.
Watts Water Technologies (NYSE:WTS – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.22. Watts Water Technologies had a net margin of 11.43% and a return on equity of 19.81%. The firm had revenue of $487.80 million for the quarter, compared to analysts’ expectations of $476.13 million.
Institutional Trading of Watts Water Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Watts Water Technologies by 5.2% during the third quarter. BlackRock Inc. now owns 3,924,676 shares of the technology company’s stock worth $493,451,000 after purchasing an additional 195,619 shares during the period. Vanguard Group Inc. increased its stake in Watts Water Technologies by 4.2% during the third quarter. Vanguard Group Inc. now owns 2,883,746 shares of the technology company’s stock worth $362,573,000 after purchasing an additional 116,455 shares during the period. Impax Asset Management Group plc increased its stake in Watts Water Technologies by 0.6% during the third quarter. Impax Asset Management Group plc now owns 1,913,584 shares of the technology company’s stock worth $240,052,000 after purchasing an additional 11,910 shares during the period. State Street Corp increased its stake in Watts Water Technologies by 1.1% during the third quarter. State Street Corp now owns 873,637 shares of the technology company’s stock worth $109,842,000 after purchasing an additional 9,702 shares during the period. Finally, Invesco Ltd. increased its stake in Watts Water Technologies by 25.2% during the first quarter. Invesco Ltd. now owns 691,779 shares of the technology company’s stock worth $96,565,000 after purchasing an additional 139,042 shares during the period. 74.85% of the stock is currently owned by hedge funds and other institutional investors.
Watts Water Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.76%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 18.15%.
About Watts Water Technologies
Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.
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