Watts Water Technologies Inc (NYSE:WTS) – Equities researchers at Seaport Global Securities reduced their Q3 2019 EPS estimates for Watts Water Technologies in a research report issued on Thursday, August 1st. Seaport Global Securities analyst W. Liptak now forecasts that the technology company will earn $1.04 per share for the quarter, down from their previous forecast of $1.06. Seaport Global Securities also issued estimates for Watts Water Technologies’ FY2019 earnings at $4.05 EPS, Q3 2020 earnings at $1.09 EPS and FY2020 earnings at $4.28 EPS.
WTS has been the subject of several other research reports. Zacks Investment Research cut Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Friday, May 31st. Janney Montgomery Scott cut Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 price objective for the company. in a report on Tuesday, July 2nd. Stifel Nicolaus boosted their price objective on Watts Water Technologies from $102.00 to $107.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, ValuEngine cut Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $95.09.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). The company had revenue of $416.80 million during the quarter, compared to analyst estimates of $416.26 million. Watts Water Technologies had a net margin of 8.08% and a return on equity of 14.76%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS.
Several institutional investors have recently made changes to their positions in WTS. Norges Bank purchased a new position in shares of Watts Water Technologies in the 4th quarter valued at about $30,091,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Watts Water Technologies in the 1st quarter valued at about $14,992,000. William Blair Investment Management LLC purchased a new position in shares of Watts Water Technologies in the 1st quarter valued at about $14,669,000. Victory Capital Management Inc. increased its stake in shares of Watts Water Technologies by 6.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,034,666 shares of the technology company’s stock valued at $83,622,000 after purchasing an additional 64,797 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Watts Water Technologies by 153.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 80,292 shares of the technology company’s stock valued at $6,489,000 after purchasing an additional 48,570 shares in the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 0.99%. Watts Water Technologies’s dividend payout ratio is presently 24.60%.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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