Watts Water Technologies, Inc. (WTS) to Issue Quarterly Dividend of $0.30 on June 15th

Watts Water Technologies, Inc. (NYSE:WTSGet Rating) announced a quarterly dividend on Monday, May 2nd, Zacks reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.30 per share by the technology company on Wednesday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Tuesday, May 31st. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.26.

Watts Water Technologies has increased its dividend by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Watts Water Technologies has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Watts Water Technologies to earn $6.29 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 19.1%.

Shares of Watts Water Technologies stock opened at $131.45 on Friday. The firm has a 50-day moving average of $133.92 and a 200-day moving average of $159.44. The stock has a market cap of $4.40 billion, a PE ratio of 24.94, a PEG ratio of 2.60 and a beta of 0.98. Watts Water Technologies has a 52-week low of $122.47 and a 52-week high of $212.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.28 and a current ratio of 2.27.

Watts Water Technologies (NYSE:WTSGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.24. The business had revenue of $463.20 million during the quarter, compared to the consensus estimate of $442.80 million. Watts Water Technologies had a return on equity of 17.41% and a net margin of 9.60%. Watts Water Technologies’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Equities research analysts predict that Watts Water Technologies will post 6.07 earnings per share for the current fiscal year.

Several brokerages have commented on WTS. Seaport Res Ptn reissued a “neutral” rating on shares of Watts Water Technologies in a research note on Thursday, February 17th. StockNews.com began coverage on Watts Water Technologies in a research note on Thursday, March 31st. They set a “buy” rating for the company. Stifel Nicolaus lowered their target price on Watts Water Technologies from $148.00 to $141.00 in a research note on Thursday, May 5th. Boenning Scattergood reissued a “neutral” rating on shares of Watts Water Technologies in a research note on Wednesday, May 4th. Finally, The Goldman Sachs Group lowered their target price on Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Watts Water Technologies has an average rating of “Hold” and a consensus target price of $144.00.

In related news, insider Elie Melhem sold 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $145.04, for a total value of $812,224.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Watts Water Technologies by 145.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 33,681 shares of the technology company’s stock worth $4,702,000 after buying an additional 19,957 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Watts Water Technologies by 1.9% in the 1st quarter. Advisors Asset Management Inc. now owns 20,549 shares of the technology company’s stock worth $2,868,000 after purchasing an additional 378 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Watts Water Technologies by 54.7% in the 1st quarter. Jane Street Group LLC now owns 4,481 shares of the technology company’s stock worth $626,000 after purchasing an additional 1,585 shares in the last quarter. KB Financial Partners LLC lifted its holdings in shares of Watts Water Technologies by 25.1% in the 1st quarter. KB Financial Partners LLC now owns 2,547 shares of the technology company’s stock worth $356,000 after purchasing an additional 511 shares in the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Watts Water Technologies by 1,803.7% in the 1st quarter. Eaton Vance Management now owns 78,679 shares of the technology company’s stock worth $10,983,000 after purchasing an additional 74,546 shares in the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.

Watts Water Technologies Company Profile (Get Rating)

Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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Dividend History for Watts Water Technologies (NYSE:WTS)

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