Watts Water Technologies, Inc. (NYSE:WTS) Declares Quarterly Dividend of $0.52

Watts Water Technologies, Inc. (NYSE:WTS) declared a quarterly dividend on Monday, May 5th, RTT News reports. Investors of record on Friday, May 30th will be paid a dividend of 0.52 per share by the technology company on Friday, June 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.97%. This is a 20.9% increase from Watts Water Technologies’s previous quarterly dividend of $0.43.

Watts Water Technologies has increased its dividend payment by an average of 17.8% 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 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Watts Water Technologies to earn $9.80 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 17.6%.

Watts Water Technologies Stock Performance

WTS stock opened at $213.74 on Tuesday. The company has a 50-day simple moving average of $204.36 and a 200 day simple moving average of $207.14. The company has a market capitalization of $7.12 billion, a P/E ratio of 24.60, a PEG ratio of 3.42 and a beta of 1.08. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. Watts Water Technologies has a fifty-two week low of $175.37 and a fifty-two week high of $232.60.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. Sell-side analysts predict that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares in the company, valued at approximately $2,204,038.57. This represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WTS has been the subject of several research reports. Stifel Nicolaus raised Watts Water Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $219.00 to $229.00 in a research note on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.00.

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.