Oppenheimer Weighs in on Watts Water Technologies, Inc.’s Q1 2022 Earnings (NYSE:WTS)

Watts Water Technologies, Inc. (NYSE:WTS) – Equities researchers at Oppenheimer issued their Q1 2022 EPS estimates for shares of Watts Water Technologies in a research note issued on Thursday, January 13th. Oppenheimer analyst B. Blair forecasts that the technology company will post earnings of $1.32 per share for the quarter. Oppenheimer also issued estimates for Watts Water Technologies’ Q3 2022 earnings at $1.58 EPS, Q4 2022 earnings at $1.56 EPS and FY2023 earnings at $6.45 EPS.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, November 3rd. The technology company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.09. Watts Water Technologies had a net margin of 8.90% and a return on equity of 16.11%. The firm had revenue of $455.00 million for the quarter, compared to the consensus estimate of $433.53 million. During the same period in the previous year, the company earned $1.05 earnings per share.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $159.00 to $189.00 and gave the company a “hold” rating in a report on Friday, November 5th. They noted that the move was a valuation call. The Goldman Sachs Group upped their price objective on shares of Watts Water Technologies from $153.00 to $191.00 and gave the company a “neutral” rating in a report on Friday, November 5th.

NYSE:WTS opened at $187.62 on Friday. Watts Water Technologies has a one year low of $113.44 and a one year high of $212.00. The company has a market cap of $6.31 billion, a P/E ratio of 40.90, a P/E/G ratio of 3.94 and a beta of 0.87. The firm’s fifty day moving average price is $194.47 and its two-hundred day moving average price is $175.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.07 and a quick ratio of 1.22.

A number of institutional investors and hedge funds have recently bought and sold shares of WTS. C M Bidwell & Associates Ltd. acquired a new position in Watts Water Technologies during the third quarter worth about $42,000. Kings Point Capital Management acquired a new position in Watts Water Technologies during the third quarter worth about $52,000. Van ECK Associates Corp raised its stake in Watts Water Technologies by 199.4% during the second quarter. Van ECK Associates Corp now owns 500 shares of the technology company’s stock worth $73,000 after acquiring an additional 333 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in Watts Water Technologies by 100.0% during the third quarter. Eagle Bay Advisors LLC now owns 556 shares of the technology company’s stock worth $92,000 after acquiring an additional 278 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Watts Water Technologies during the third quarter worth about $114,000. 74.66% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Timothy P. Horne sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of $209.09, for a total transaction of $1,568,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 1,200 shares of the company’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $207.05, for a total transaction of $248,460.00. The disclosure for this sale can be found here. In the last three months, insiders sold 11,217 shares of company stock valued at $2,312,836. 1.00% of the stock is currently owned by company insiders.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. Watts Water Technologies’s payout ratio is presently 22.76%.

About Watts Water Technologies

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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