FY2024 Earnings Forecast for WTS Issued By Seaport Res Ptn

Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of Watts Water Technologies in a research note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst W. Liptak now expects that the technology company will post earnings per share of $8.75 for the year, up from their prior 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.

A number of other equities analysts have also recently commented on the company. Robert W. Baird lowered their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Monday. Finally, Stifel Nicolaus lowered their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and a consensus price target of $200.25.

Watts Water Technologies Stock Down 2.3 %

Shares of NYSE:WTS opened at $207.24 on Friday. The business has a 50-day moving average price of $200.61 and a 200 day moving average price of $197.22. 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 company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 3.04 and a beta of 0.90. Watts Water Technologies has a 12-month low of $175.37 and a 12-month high of $219.52.

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

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 29th. Watts Water Technologies’s payout ratio is presently 20.62%.

Insider Activity

In other news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares in the company, valued at approximately $512,237.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now directly owns 2,755 shares in the company, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,620 shares of company stock worth $1,928,526. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in WTS. BNP Paribas Financial Markets raised its position in shares of Watts Water Technologies by 7.0% during the 1st quarter. BNP Paribas Financial Markets now owns 36,062 shares of the technology company’s stock worth $7,665,000 after acquiring an additional 2,371 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Watts Water Technologies by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 23,952 shares of the technology company’s stock worth $5,091,000 after buying an additional 310 shares during the period. Quantbot Technologies LP acquired a new position in Watts Water Technologies during the first quarter worth approximately $442,000. Susquehanna Fundamental Investments LLC acquired a new position in Watts Water Technologies during the first quarter worth approximately $940,000. Finally, Sei Investments Co. increased its position in Watts Water Technologies by 21.1% during the first quarter. Sei Investments Co. now owns 35,918 shares of the technology company’s stock worth $7,634,000 after buying an additional 6,255 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

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.