Watts Water Technologies (NYSE:WTS) Announces Quarterly Earnings Results

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

Watts Water Technologies Stock Performance

WTS traded down $4.43 on Thursday, hitting $207.81. The company’s stock had a trading volume of 118,231 shares, compared to its average volume of 127,974. The company’s 50 day simple moving average is $205.02 and its 200-day simple moving average is $199.70. The company has a quick ratio of 1.63, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. Watts Water Technologies has a 12 month low of $156.85 and a 12 month high of $219.52. The firm has a market cap of $6.92 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.

Watts Water Technologies Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Watts Water Technologies

In related news, CAO Virginia A. Halloran sold 1,520 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $202.11, for a total transaction of $307,207.20. Following the sale, the chief accounting officer now owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Virginia A. Halloran sold 1,520 shares of the company’s 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 owns 14,818 shares of the company’s stock, valued at $2,994,865.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 764 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $199.00, for a total value of $152,036.00. Following the transaction, the insider now owns 14,236 shares of the company’s stock, valued at $2,832,964. The disclosure for this sale can be found here. Insiders sold 5,113 shares of company stock valued at $1,023,106 over the last three months. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Company Profile

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.