Watts Water Technologies (NYSE:WTS) Announces Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Watts Water Technologies (NYSE:WTS) released its quarterly earnings data on Wednesday. The technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.11 by $0.22, Briefing.com reports. Watts Water Technologies had a return on equity of 19.38% and a net margin of 12.75%. The company had revenue of $570.90 million for the quarter, compared to the consensus estimate of $547.20 million. During the same period last year, the business posted $1.92 EPS. Watts Water Technologies’s quarterly revenue was up 21.0% on a year-over-year basis. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Down 1.9 %

WTS traded down $3.96 on Thursday, hitting $208.28. The company had a trading volume of 113,823 shares, compared to its average volume of 127,902. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.00 and a beta of 0.95. The stock has a fifty day moving average price of $205.02 and a 200-day moving average price of $199.70. Watts Water Technologies has a 12-month low of $156.85 and a 12-month high of $219.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.61.

Watts Water Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 31st. This represents a $1.72 dividend on an annualized basis and a yield of 0.83%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.36. Watts Water Technologies’s dividend payout ratio (DPR) is presently 18.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stifel Nicolaus raised their price target on Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Robert W. Baird boosted their price target on shares of Watts Water Technologies from $191.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $195.25.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of Watts Water Technologies stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $202.11, for a total value of $307,207.20. Following the transaction, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at $2,994,865.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $202.11, for a total value of $307,207.20. Following the completion of the sale, the chief accounting officer now owns 14,818 shares of the company’s stock, valued at $2,994,865.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Elie Melhem sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $199.50, for a total transaction of $498,750.00. Following the transaction, the insider now owns 13,564 shares in the company, valued at approximately $2,706,018. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,113 shares of company stock valued at $1,023,106. 1.10% of the stock is currently owned by insiders.

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.