KeyCorp Weighs in on Watts Water Technologies Inc’s FY2018 Earnings (WTS)

Watts Water Technologies Inc (NYSE:WTS) – Equities researchers at KeyCorp boosted their FY2018 earnings per share estimates for Watts Water Technologies in a research note issued to investors on Thursday. KeyCorp analyst J. Hammond now anticipates that the technology company will post earnings per share of $3.65 for the year, up from their previous estimate of $3.30. KeyCorp currently has a “Hold” rating on the stock.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $347.70 million during the quarter, compared to analysts’ expectations of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. Watts Water Technologies’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Tuesday, October 3rd. Robert W. Baird raised their price target on Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the stock a “buy” rating in a research report on Friday. Finally, Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Watts Water Technologies presently has an average rating of “Hold” and a consensus price target of $77.33.

Watts Water Technologies (NYSE:WTS) opened at $80.50 on Monday. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2,748.91, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.00 and a beta of 1.16. Watts Water Technologies has a 1 year low of $59.15 and a 1 year high of $80.55.

In other news, CEO Robert J. Pagano, Jr. sold 11,852 shares of Watts Water Technologies stock in a transaction on Friday, December 8th. The stock was sold at an average price of $73.53, for a total value of $871,477.56. Following the completion of the sale, the chief executive officer now owns 137,474 shares of the company’s stock, valued at $10,108,463.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 3,951 shares of Watts Water Technologies stock in a transaction on Monday, December 11th. The shares were sold at an average price of $73.09, for a total value of $288,778.59. Following the completion of the sale, the chief executive officer now directly owns 137,474 shares of the company’s stock, valued at approximately $10,047,974.66. The disclosure for this sale can be found here. Insiders have sold 18,348 shares of company stock valued at $1,339,628 in the last three months. 1.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Riverhead Capital Management LLC grew its position in Watts Water Technologies by 44.3% during the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after acquiring an additional 532 shares during the period. Public Employees Retirement System of Ohio grew its position in Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after acquiring an additional 17 shares during the period. Quantbot Technologies LP grew its position in Watts Water Technologies by 823.9% during the second quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock valued at $144,000 after acquiring an additional 2,035 shares during the period. Ballentine Partners LLC purchased a new stake in Watts Water Technologies during the third quarter valued at about $200,000. Finally, Suntrust Banks Inc. grew its position in Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after acquiring an additional 31 shares during the period. 77.68% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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