Watts Water Technologies Inc (NYSE:WTS) announced a quarterly dividend on Monday, July 27th, Zacks reports. Shareholders of record on Tuesday, September 1st will be given a dividend of 0.23 per share by the technology company on Tuesday, September 15th. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, August 31st.
Watts Water Technologies has increased its dividend payment by an average of 26.8% annually over the last three years and has increased its dividend every year for the last 7 years. Watts Water Technologies has a dividend payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Watts Water Technologies to earn $3.58 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 25.7%.
NYSE:WTS traded up $1.41 during trading hours on Wednesday, hitting $85.64. 1,748 shares of the stock were exchanged, compared to its average volume of 129,413. Watts Water Technologies has a 52-week low of $69.02 and a 52-week high of $114.45. The firm’s fifty day moving average price is $81.96 and its 200 day moving average price is $87.22. The company has a current ratio of 2.09, a quick ratio of 1.35 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.84 billion, a P/E ratio of 20.91, a P/E/G ratio of 3.64 and a beta of 0.91.
In related news, insider Elie Melhem sold 1,688 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $80.36, for a total value of $135,647.68. Following the completion of the transaction, the insider now directly owns 16,898 shares in the company, valued at $1,357,923.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 9,801 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $88.89, for a total value of $871,210.89. Corporate insiders own 1.10% of the company’s stock.
Several equities research analysts have commented on the company. Oppenheimer assumed coverage on Watts Water Technologies in a research note on Thursday, June 18th. They set a “hold” rating for the company. Stifel Nicolaus dropped their price target on Watts Water Technologies from $120.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Zacks Investment Research lowered Watts Water Technologies from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a research report on Sunday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Watts Water Technologies has a consensus rating of “Hold” and a consensus target price of $101.00.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. 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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