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

Key Points

• Watts Water Technologies declared a quarterly dividend of $0.63 per share, payable December 15 to shareholders of record as of December 1. The dividend implies $2.52 in annual payments and a 0.7% yield.
• The company has raised its dividend for 13 consecutive years, with a 25.4% payout ratio indicating substantial earnings coverage. Analysts expect the future payout ratio to decline to approximately 18.1%.
• Watts reported strong quarterly results, earning $3.66 per share versus the $3.34 consensus estimate and generating $763.2 million in revenue, up 18.6% year over year.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) announced a quarterly dividend on Monday, November 2nd. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.63 per share by the technology company on Tuesday, December 15th. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, December 1st.

Watts Water Technologies has increased its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Watts Water Technologies has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Watts Water Technologies to earn $13.95 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 18.1%.

Watts Water Technologies Trading Up 2.1%

NYSE WTS opened at $354.87 on Tuesday. The business's fifty day moving average is $357.16 and its 200-day moving average is $331.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.33 and a beta of 1.15. Watts Water Technologies has a one year low of $260.00 and a one year high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company had revenue of $763.20 million during the quarter, compared to analyst estimates of $725.99 million. During the same quarter in the prior year, the business earned $3.09 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts predict that Watts Water Technologies will post 12.87 EPS for the current year.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company's offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.