Watts Water Technologies, Inc. Declares Quarterly Dividend of $0.43 (NYSE:WTS)

Watts Water Technologies, Inc. (NYSE:WTS) declared a quarterly dividend on Monday, February 3rd,RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.43 per share by the technology company on Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, February 28th.

Watts Water Technologies has increased its dividend by an average of 17.8% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Watts Water Technologies has a payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Watts Water Technologies to earn $8.98 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 19.2%.

Watts Water Technologies Stock Up 0.1 %

Shares of NYSE:WTS opened at $205.75 on Wednesday. The company has a market capitalization of $6.86 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 3.38 and a beta of 0.93. Watts Water Technologies has a 1 year low of $175.37 and a 1 year high of $222.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55. The business has a fifty day moving average price of $208.80 and a two-hundred day moving average price of $202.88.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of research analyst reports. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, November 4th. Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $202.00 to $218.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $220.50.

Insider Transactions at Watts Water Technologies

In related news, CFO Shashank Patel sold 4,569 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.10, for a total value of $955,377.90. Following the completion of the transaction, the chief financial officer now directly owns 15,635 shares of the company’s stock, valued at approximately $3,269,278.50. This trade represents a 22.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.