Watts Water Technologies (NYSE:WTS) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Watts Water Technologies (NYSE:WTS) posted its earnings results on Wednesday. The technology company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04, Briefing.com reports. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.83 million. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Up 1.6 %

Shares of NYSE WTS opened at $193.68 on Friday. The stock has a market capitalization of $6.46 billion, a P/E ratio of 23.22, a PEG ratio of 2.74 and a beta of 0.90. Watts Water Technologies has a one year low of $174.04 and a one year high of $219.52. The firm’s 50 day simple moving average is $200.02 and its two-hundred day simple moving average is $197.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.49.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 0.89%. Watts Water Technologies’s payout ratio is 20.62%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Robert W. Baird cut 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 note on Friday, August 9th. Finally, Stifel Nicolaus lowered their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, August 9th.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael J. Dubose sold 315 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the sale, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now owns 11,516 shares in the company, valued at approximately $2,132,302.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.