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

Watts Water Technologies, Inc. (NYSE:WTSGet Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 31st will be given a dividend of 0.43 per share by the technology company on Friday, June 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.36.

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 11 consecutive years. Watts Water Technologies has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Watts Water Technologies to earn $9.08 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 18.9%.

Watts Water Technologies Stock Down 2.8 %

NYSE WTS opened at $197.36 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $207.24 and a two-hundred day moving average of $203.13. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.96 and a beta of 0.95. Watts Water Technologies has a 52 week low of $156.85 and a 52 week high of $219.52.

Watts Water Technologies (NYSE:WTSGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.11 by $0.22. The company had revenue of $570.90 million during the quarter, compared to analyst estimates of $547.20 million. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. Watts Water Technologies’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 earnings per share. On average, analysts predict that Watts Water Technologies will post 8.57 earnings per share for the current year.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 2,194 shares of Watts Water Technologies stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total transaction of $470,371.66. Following the completion of the sale, the insider now directly owns 2,806 shares in the company, valued at $601,578.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Shashank Patel sold 1,508 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total value of $324,370.80. Following the completion of the sale, the chief financial officer now directly owns 20,204 shares in the company, valued at $4,345,880.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 2,194 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now owns 2,806 shares of the company’s stock, valued at $601,578.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,273 shares of company stock worth $1,543,961. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on WTS shares. Robert W. Baird lifted 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 lifted their target price on Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $199.50.

Read Our Latest Report on WTS

Watts Water Technologies Company Profile

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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.

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Dividend History for Watts Water Technologies (NYSE:WTS)

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