Watts Water Technologies, Inc. (NYSE:WTS) Announces Quarterly Dividend of $0.43

Watts Water Technologies, Inc. (NYSE:WTS) declared a quarterly dividend on Monday, August 5th, NASDAQ reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.43 per share by the technology company on Friday, September 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, August 30th.

Watts Water Technologies has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 11 years. Watts Water Technologies has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Watts Water Technologies to earn $9.06 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.0%.

Watts Water Technologies Price Performance

Shares of NYSE:WTS traded up $2.42 during trading on Tuesday, hitting $196.40. 216,647 shares of the company’s stock were exchanged, compared to its average volume of 144,681. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.87 and a beta of 0.90. The business’s 50-day simple moving average is $191.05 and its 200 day simple moving average is $200.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44. Watts Water Technologies has a 52-week low of $167.87 and a 52-week high of $219.52.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 8th. The technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.22. The business had revenue of $570.90 million during the quarter, compared to analyst estimates of $547.20 million. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. As a group, equities analysts predict that Watts Water Technologies will post 8.7 EPS for the current year.

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of research reports. Robert W. Baird increased their price objective on shares of Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $209.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, July 18th.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 2,051 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $215.51, for a total transaction of $442,011.01. Following the completion of the transaction, the insider now directly owns 13,226 shares in the company, valued at approximately $2,850,335.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Timothy P. Horne sold 2,194 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total transaction of $470,371.66. Following the completion of the transaction, the insider now owns 2,806 shares in the company, valued at $601,578.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Elie Melhem sold 2,051 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the transaction, the insider now owns 13,226 shares in the company, valued at approximately $2,850,335.26. The disclosure for this sale can be found here. Insiders sold 5,753 shares of company stock worth $1,236,753 in the last 90 days. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Company Profile

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.