Equities Analysts Offer Predictions for WTS FY2024 Earnings

Watts Water Technologies, Inc. (NYSE:WTS) – Seaport Res Ptn increased their FY2024 EPS estimates for shares of Watts Water Technologies in a research note issued on Tuesday, November 5th. Seaport Res Ptn analyst W. Liptak now expects that the technology company will earn $8.75 per share 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.

WTS has been the subject of several other research reports. Northcoast Research upgraded shares of 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, November 4th. Stifel Nicolaus decreased their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Robert W. Baird decreased their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three research 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, the stock currently has an average rating of “Hold” and a consensus target price of $200.25.

Watts Water Technologies Stock Up 0.6 %

Watts Water Technologies stock opened at $208.45 on Friday. Watts Water Technologies has a fifty-two week low of $175.37 and a fifty-two week high of $219.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55. The firm has a 50 day moving average price of $201.10 and a 200 day moving average price of $197.32. The company has a market capitalization of $6.95 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results 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 business had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.83 million. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WTS. HWG Holdings LP purchased a new position in shares of Watts Water Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies in the third quarter valued at about $30,000. Gradient Investments LLC acquired a new stake in Watts Water Technologies during the second quarter valued at approximately $31,000. Blue Trust Inc. lifted its holdings in Watts Water Technologies by 520.5% during the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after buying an additional 229 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Watts Water Technologies in the 1st quarter worth approximately $53,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Watts Water Technologies

In other news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at $2,132,302.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Kenneth Robert Lepage sold 2,607 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $212.72, for a total transaction of $554,561.04. Following the completion of the sale, the general counsel now directly owns 11,457 shares in the company, valued at $2,437,133.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,999 shares of company stock worth $7,299,786. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Dividend Announcement

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

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.