Watts Water Technologies, Inc. (NYSE:WTS) to Issue $0.63 Quarterly Dividend

Watts Water Technologies, Inc. (NYSE:WTS) declared a quarterly dividend on Monday, August 3rd. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.63 per share by the technology company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st.

Watts Water Technologies has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 13 years. Watts Water Technologies has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Watts Water Technologies to earn $13.36 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 18.9%.

Watts Water Technologies Trading Up 1.3%

Watts Water Technologies stock opened at $350.42 on Tuesday. The firm has a 50 day simple moving average of $341.30 and a 200-day simple moving average of $317.29. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The stock has a market capitalization of $11.70 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.14. Watts Water Technologies has a 12-month low of $251.17 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business earned $2.37 earnings per share. As a group, equities research analysts expect that Watts Water Technologies will post 12.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies during the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter worth $28,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies during the third quarter valued at $29,000. Clearstead Advisors LLC lifted its stake in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies in the 4th quarter valued at about $29,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.