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

Watts Water Technologies (NYSE:WTS) announced its quarterly earnings results on Wednesday. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04, Briefing.com reports. The firm had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.83 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 earnings per share. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Performance

Shares of WTS stock traded down $4.44 during trading hours on Thursday, hitting $193.30. The stock had a trading volume of 68,524 shares, compared to its average volume of 144,889. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The stock’s 50 day moving average is $199.89 and its 200 day moving average is $197.28. Watts Water Technologies has a twelve month low of $171.14 and a twelve month high of $219.52. The firm has a market capitalization of $6.45 billion, a PE ratio of 24.00, a PEG ratio of 2.83 and a beta of 0.89.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, November 29th. Watts Water Technologies’s payout ratio is currently 20.87%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the sale, the insider now directly owns 11,516 shares of the company’s stock, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the sale, the insider now directly owns 11,516 shares of the company’s stock, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now directly owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WTS shares. Robert W. Baird lowered their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a report on Friday, August 9th. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus lowered their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th.

About Watts Water Technologies

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.