Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) – Oppenheimer cut their FY2023 earnings per share estimates for Watts Water Technologies in a report issued on Thursday, January 26th. Oppenheimer analyst B. Blair now forecasts that the technology company will post earnings of $7.12 per share for the year, down from their prior forecast of $7.20. 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 2023 earnings at $1.69 EPS.
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Other analysts also recently issued reports about the company. 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 report on Friday, November 4th. Deutsche Bank Aktiengesellschaft downgraded Watts Water Technologies from a "buy" rating to a "hold" rating and decreased their target price for the stock from $155.00 to $150.00 in a research report on Tuesday, January 10th. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on Watts Water Technologies from $145.00 to $146.00 and gave the stock a "hold" rating in a research report on Friday, January 20th. Finally, StockNews.com downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 6th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $135.80.
Watts Water Technologies Stock Up 1.5 %
WTS opened at $159.28 on Monday. The business's fifty day moving average is $151.83 and its two-hundred day moving average is $142.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.47. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.97 and a beta of 1.01. Watts Water Technologies has a one year low of $116.31 and a one year high of $160.79.
Watts Water Technologies (NYSE:WTS – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The technology company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $487.80 million for the quarter, compared to the consensus estimate of $476.13 million.
Institutional Trading of Watts Water Technologies
Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Watts Water Technologies by 89.5% in the second quarter. Victory Capital Management Inc. now owns 566,767 shares of the technology company's stock valued at $69,622,000 after purchasing an additional 267,654 shares during the last quarter. BlackRock Inc. increased its stake in Watts Water Technologies by 5.2% in the third quarter. BlackRock Inc. now owns 3,924,676 shares of the technology company's stock valued at $493,451,000 after purchasing an additional 195,619 shares during the last quarter. Renaissance Technologies LLC increased its stake in Watts Water Technologies by 188.9% in the first quarter. Renaissance Technologies LLC now owns 230,000 shares of the technology company's stock valued at $32,106,000 after purchasing an additional 150,400 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Watts Water Technologies by 161.4% in the first quarter. Goldman Sachs Group Inc. now owns 228,077 shares of the technology company's stock valued at $31,837,000 after purchasing an additional 140,834 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Watts Water Technologies by 25.2% in the first quarter. Invesco Ltd. now owns 691,779 shares of the technology company's stock valued at $96,565,000 after purchasing an additional 139,042 shares during the last quarter. 74.85% of the stock is currently owned by hedge funds and other institutional investors.
Watts Water Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.75%. Watts Water Technologies's dividend payout ratio is currently 18.15%.
About Watts Water Technologies
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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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