Watts Water Technologies, Inc. (NYSE:WTS) to Issue $0.43 Quarterly Dividend

Watts Water Technologies, Inc. (NYSE:WTS) announced a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.43 per share by the technology company on Friday, December 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.87%.

Watts Water Technologies has increased its dividend by an average of 14.5% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Watts Water Technologies has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Watts Water Technologies to earn $8.99 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 19.1%.

Watts Water Technologies Stock Up 0.1 %

WTS traded up $0.17 during trading on Monday, hitting $197.21. The company had a trading volume of 95,892 shares, compared to its average volume of 145,495. The company has a market capitalization of $6.58 billion, a PE ratio of 23.91, a PEG ratio of 2.83 and a beta of 0.89. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Watts Water Technologies has a one year low of $169.71 and a one year high of $219.52. The firm’s 50-day moving average price is $199.19 and its 200 day moving average price is $197.34.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. During the same period in the prior year, the firm earned $2.34 earnings per share. Watts Water Technologies’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Watts Water Technologies will post 8.7 earnings per share for the current year.

Wall Street Analyst Weigh In

WTS has been the topic of a number of recent research reports. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus cut their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday, August 9th.

Insider Activity

In related news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the sale, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

About Watts Water Technologies

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.