Watts Water Technologies Inc (NYSE:WTS) announced a quarterly dividend on Monday, July 27th, Zacks reports. Investors of record on Tuesday, September 1st will be paid a dividend of 0.23 per share by the technology company on Tuesday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.08%. 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 raised 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. Equities 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%.
WTS stock traded up $1.31 during trading on Wednesday, reaching $85.54. 2,211 shares of the company traded hands, compared to its average volume of 129,413. Watts Water Technologies has a 12 month low of $69.02 and a 12 month high of $114.45. The business has a 50 day simple moving average of $81.96 and a 200 day simple moving average of $87.22. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 3.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.35 and a current ratio of 2.09.
A number of equities research analysts recently weighed in on the company. Oppenheimer assumed coverage on Watts Water Technologies in a research report on Thursday, June 18th. They set a “hold” rating on the stock. Stifel Nicolaus lowered their price target on Watts Water Technologies from $120.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, Zacks Investment Research downgraded Watts Water Technologies from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a 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 company. The stock has a consensus rating of “Hold” and a consensus target price of $101.00.
In related news, insider Elie Melhem sold 1,688 shares of Watts Water Technologies stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $80.36, for a total transaction 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 SEC, which can be accessed through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 9,801 shares of Watts Water Technologies stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $88.89, for a total value of $871,210.89. Company insiders own 1.10% of the company’s stock.
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.
Featured Article: Return On Assets
Receive News & Ratings for Watts Water Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies and related companies with MarketBeat.com's FREE daily email newsletter.