KeyCorp Analysts Cut Earnings Estimates for Watts Water Technologies, Inc. (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Stock analysts at KeyCorp decreased their FY2017 earnings per share estimates for Watts Water Technologies in a note issued to investors on Monday. KeyCorp analyst J. Hammond now expects that the technology company will earn $2.95 per share for the year, down from their previous estimate of $2.98.
Other equities research analysts have also issued reports about the company. Robert W. Baird reaffirmed a “hold” rating and set a $71.00 target price on shares of Watts Water Technologies in a research report on Wednesday. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday. BidaskClub downgraded Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Stifel Nicolaus began coverage on Watts Water Technologies in a report on Monday, September 18th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Cowen and Company reiterated a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $70.83.
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Shares of Watts Water Technologies (NYSE:WTS) opened at 69.00 on Thursday. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 26.95 and a beta of 1.08. The firm has a 50-day moving average price of $64.87 and a 200-day moving average price of $63.32.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. During the same period last year, the company earned $0.75 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after purchasing an additional 3,541,642 shares in the last quarter. Vanguard Group Inc. grew its stake in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after purchasing an additional 205,883 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Watts Water Technologies by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 953,898 shares of the technology company’s stock valued at $60,286,000 after purchasing an additional 30,001 shares in the last quarter. Voya Investment Management LLC grew its stake in Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after purchasing an additional 67,767 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Watts Water Technologies by 5.4% in the second quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock valued at $45,448,000 after purchasing an additional 36,723 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.
In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the transaction, the insider now owns 32,128 shares in the company, valued at $1,995,470.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.10%. Watts Water Technologies’s dividend payout ratio is 29.69%.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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