Brokerages predict that Watts Water Technologies, Inc. (NYSE:WTS) will announce sales of $436.03 million for the current quarter, according to Zacks. Four analysts have made estimates for Watts Water Technologies’ earnings. The lowest sales estimate is $432.10 million and the highest is $440.00 million. Watts Water Technologies posted sales of $383.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.6%. The company is expected to issue its next quarterly earnings report on Wednesday, November 3rd.
On average, analysts expect that Watts Water Technologies will report full year sales of $1.75 billion for the current financial year, with estimates ranging from $1.75 billion to $1.76 billion. For the next financial year, analysts expect that the company will post sales of $1.84 billion, with estimates ranging from $1.81 billion to $1.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 4th. The technology company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.20. The company had revenue of $467.00 million during the quarter, compared to analyst estimates of $425.48 million. Watts Water Technologies had a net margin of 8.47% and a return on equity of 15.51%. Watts Water Technologies’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share.
WTS traded up $2.23 on Friday, hitting $174.29. The company had a trading volume of 1,605 shares, compared to its average volume of 143,040. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.13 and a quick ratio of 1.34. Watts Water Technologies has a 52-week low of $95.21 and a 52-week high of $176.28. The stock has a fifty day simple moving average of $158.76 and a 200-day simple moving average of $139.69. The firm has a market capitalization of $5.86 billion, a P/E ratio of 41.26, a P/E/G ratio of 4.10 and a beta of 0.88.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a $0.26 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $1.04 annualized dividend and a yield of 0.60%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 26.80%.
In related news, CFO Shashank Patel sold 8,524 shares of the firm’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $150.00, for a total transaction of $1,278,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elie Melhem sold 1,514 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $163.00, for a total transaction of $246,782.00. Following the sale, the insider now directly owns 14,553 shares of the company’s stock, valued at approximately $2,372,139. The disclosure for this sale can be found here. Insiders sold 23,048 shares of company stock valued at $3,745,669 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Watts Water Technologies by 4.9% in the first quarter. BlackRock Inc. now owns 4,766,409 shares of the technology company’s stock worth $566,297,000 after purchasing an additional 221,776 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Watts Water Technologies by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,895,082 shares of the technology company’s stock worth $422,421,000 after acquiring an additional 65,266 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Watts Water Technologies by 1.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,349,462 shares of the technology company’s stock worth $279,141,000 after acquiring an additional 23,206 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Watts Water Technologies by 1.8% during the 2nd quarter. Impax Asset Management Group plc now owns 2,144,728 shares of the technology company’s stock worth $312,283,000 after acquiring an additional 37,006 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Watts Water Technologies by 2.2% during the 2nd quarter. State Street Corp now owns 877,482 shares of the technology company’s stock worth $128,033,000 after acquiring an additional 18,958 shares during the last quarter. Institutional investors own 74.90% of the company’s stock.
Watts Water Technologies Company Profile
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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