Watts Water Technologies Inc (WTS) Announces Quarterly Dividend of $0.19

Watts Water Technologies Inc (NYSE:WTS) announced a quarterly dividend on Thursday, February 8th, RTT News reports. Stockholders of record on Friday, March 2nd will be paid a dividend of 0.19 per share by the technology company on Friday, March 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%.

Watts Water Technologies has raised its dividend payment by an average of 8.9% per year over the last three years and has raised its dividend every year for the last 5 years. Watts Water Technologies has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Watts Water Technologies to earn $3.39 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 22.4%.

Shares of Watts Water Technologies (WTS) traded down $2.15 on Thursday, hitting $72.45. The stock had a trading volume of 185,637 shares, compared to its average volume of 104,016. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57. Watts Water Technologies has a 12-month low of $59.15 and a 12-month high of $82.35. The company has a market cap of $2,520.00, a PE ratio of 27.58, a P/E/G ratio of 1.85 and a beta of 1.13.

A number of analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Zacks Investment Research cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird boosted their price target on Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $79.17.

In related news, insider Elie Melhem sold 2,545 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total value of $179,371.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $73.53, for a total value of $871,477.56. Following the completion of the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at $10,108,463.22. The disclosure for this sale can be found here. Insiders sold a total of 18,348 shares of company stock worth $1,339,628 over the last ninety days. 1.10% of the stock is currently owned by insiders.

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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.

Dividend History for Watts Water Technologies (NYSE:WTS)

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