KeyCorp Comments on Watts Water Technologies Inc’s Q1 2019 Earnings (WTS)

Watts Water Technologies Inc (NYSE:WTS) – Equities research analysts at KeyCorp cut their Q1 2019 earnings per share estimates for shares of Watts Water Technologies in a report released on Sunday, April 14th. KeyCorp analyst J. Hammond now anticipates that the technology company will earn $0.91 per share for the quarter, down from their prior estimate of $0.93.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $387.60 million for the quarter, compared to analyst estimates of $382.33 million. Watts Water Technologies had a return on equity of 14.71% and a net margin of 7.97%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS.

A number of other research analysts have also weighed in on WTS. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Janney Montgomery Scott lowered Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $81.00 to $83.00 in a report on Monday, February 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.50.

WTS stock opened at $83.78 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.85 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.05 and a beta of 1.21. Watts Water Technologies has a 1-year low of $61.17 and a 1-year high of $93.35.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTS. Norges Bank bought a new stake in Watts Water Technologies in the 4th quarter valued at $30,091,000. Victory Capital Management Inc. boosted its stake in Watts Water Technologies by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 969,869 shares of the technology company’s stock valued at $62,586,000 after purchasing an additional 182,700 shares during the period. Impax Asset Management Group plc boosted its stake in Watts Water Technologies by 5.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,529,189 shares of the technology company’s stock valued at $163,209,000 after purchasing an additional 122,256 shares during the period. Man Group plc boosted its stake in Watts Water Technologies by 205.5% in the 3rd quarter. Man Group plc now owns 113,835 shares of the technology company’s stock valued at $9,448,000 after purchasing an additional 76,570 shares during the period. Finally, Morgan Stanley boosted its stake in Watts Water Technologies by 54.0% in the 3rd quarter. Morgan Stanley now owns 211,625 shares of the technology company’s stock valued at $17,565,000 after purchasing an additional 74,235 shares during the period. Institutional investors and hedge funds own 77.56% of the company’s stock.

In related news, major shareholder Timothy P. Horne sold 976 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $81.00, for a total value of $79,056.00. Following the completion of the sale, the insider now directly owns 49,024 shares in the company, valued at approximately $3,970,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Munish Nanda sold 11,059 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $79.32, for a total value of $877,199.88. The disclosure for this sale can be found here. Insiders sold a total of 71,055 shares of company stock valued at $5,707,415 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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

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