Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) – Investment analysts at Oppenheimer upped their FY2022 earnings per share (EPS) estimates for Watts Water Technologies in a report issued on Thursday, January 26th. Oppenheimer analyst B. Blair now anticipates that the technology company will earn $7.10 per share for the year, up from their prior forecast of $7.08. The consensus estimate for Watts Water Technologies' current full-year earnings is $7.08 per share. Oppenheimer also issued estimates for Watts Water Technologies' Q4 2022 earnings at $1.57 EPS, Q1 2023 earnings at $1.57 EPS, Q2 2023 earnings at $2.02 EPS and Q3 2023 earnings at $1.84 EPS.
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WTS has been the subject of several other research reports. The Goldman Sachs Group boosted their target price on Watts Water Technologies from $129.00 to $143.00 and gave the stock a "neutral" rating in a research note on Friday, November 4th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $145.00 to $146.00 and gave the company a "hold" rating in a research report on Friday, January 20th. StockNews.com lowered Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered Watts Water Technologies from a "buy" rating to a "hold" rating and dropped their target price for the company from $155.00 to $150.00 in a research note on Tuesday, January 10th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $135.80.
Watts Water Technologies Stock Performance
NYSE WTS opened at $159.28 on Friday. The stock has a market cap of $5.30 billion, a PE ratio of 24.10, a P/E/G ratio of 2.88 and a beta of 1.01. The company has a current ratio of 2.47, a quick ratio of 1.36 and a debt-to-equity ratio of 0.15. Watts Water Technologies has a twelve month low of $116.31 and a twelve month high of $160.79. The stock has a fifty day simple moving average of $151.78 and a 200-day simple moving average of $142.17.
Watts Water Technologies (NYSE:WTS – Get Rating) last announced its earnings results on Wednesday, November 2nd. The technology company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.22. Watts Water Technologies had a return on equity of 19.81% and a net margin of 11.43%. The business had revenue of $487.80 million during the quarter, compared to the consensus estimate of $476.13 million.
Watts Water Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, November 30th. Watts Water Technologies's dividend payout ratio is presently 18.15%.
Institutional Trading of Watts Water Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in WTS. Natixis Advisors L.P. increased its position in shares of Watts Water Technologies by 65.7% during the 4th quarter. Natixis Advisors L.P. now owns 68,341 shares of the technology company's stock valued at $9,993,000 after purchasing an additional 27,098 shares during the period. State of Michigan Retirement System boosted its stake in shares of Watts Water Technologies by 1.5% during the 4th quarter. State of Michigan Retirement System now owns 6,995 shares of the technology company's stock worth $1,023,000 after acquiring an additional 100 shares in the last quarter. Symphony Financial Ltd. Co. bought a new stake in shares of Watts Water Technologies during the 4th quarter worth $692,000. Strs Ohio boosted its position in shares of Watts Water Technologies by 25.0% in the fourth quarter. Strs Ohio now owns 2,500 shares of the technology company's stock worth $365,000 after buying an additional 500 shares during the period. Finally, Dupont Capital Management Corp boosted its position in shares of Watts Water Technologies by 2.6% in the fourth quarter. Dupont Capital Management Corp now owns 7,377 shares of the technology company's stock worth $1,079,000 after buying an additional 185 shares during the period. 74.85% of the stock is currently owned by institutional investors and hedge funds.
Watts Water Technologies Company Profile
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Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.
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