Watts Water Technologies, Inc. (WTS) Declares Quarterly Dividend of $0.19
Watts Water Technologies, Inc. (NYSE:WTS) announced a quarterly dividend on Monday, October 30th, RTT News reports. Investors of record on Friday, December 1st will be paid a dividend of 0.19 per share by the technology company on Friday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.13%.
Watts Water Technologies has increased its dividend payment by an average of 12.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Watts Water Technologies has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Watts Water Technologies to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 23.2%.
Shares of Watts Water Technologies (NYSE:WTS) traded down 1.03% during midday trading on Monday, hitting $67.50. 146,456 shares of the company traded hands. The company has a 50-day moving average price of $67.43 and a 200-day moving average price of $64.10. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The stock has a market capitalization of $2.31 billion, a P/E ratio of 26.37 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. Watts Water Technologies’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Analysts anticipate that Watts Water Technologies will post $2.98 earnings per share for the current fiscal year.
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In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the transaction, the insider now owns 32,128 shares in the company, valued at approximately $1,995,470.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several research analysts recently commented on WTS shares. Cowen and Company reiterated a “hold” rating and set a $58.00 price objective on shares of Watts Water Technologies in a research note on Thursday, September 28th. BidaskClub lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Stifel Nicolaus assumed coverage on shares of Watts Water Technologies in a research note on Monday, September 18th. They set a “buy” rating and a $72.00 price target on the stock. Finally, Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $70.83.
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.
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