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

Watts Water Technologies (NYSE:WTS) announced its quarterly earnings data on Wednesday. The technology company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04, Briefing.com reports. The firm had revenue of $543.60 million for 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 revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 earnings per share. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Performance

NYSE WTS traded down $4.12 during trading hours on Thursday, hitting $193.62. 64,312 shares of the stock were exchanged, compared to its average volume of 144,869. Watts Water Technologies has a 12-month low of $171.14 and a 12-month high of $219.52. The stock has a 50-day moving average of $199.89 and a 200 day moving average of $197.28. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.89. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date 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 currently 20.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WTS. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Robert W. Baird reduced their target price on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 1,710 shares of the company’s 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 transaction, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Elie Melhem sold 1,710 shares of the firm’s 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 sale, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. 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.

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.