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

Key Points

• Watts Water Technologies declared a quarterly dividend of $0.63 per share, payable September 15 to shareholders of record on September 1. The annualized dividend is $2.52, with an indicated yield of about 0.7%.
• The company has increased its dividend for 13 consecutive years, and its 25.4% payout ratio indicates the dividend is well covered by earnings.
• Watts reported quarterly EPS of $3.04, beating estimates of $2.72, while revenue rose 21.4% year over year to $677.3 million. Shares opened at $350.42, up 1.3%.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) declared a quarterly dividend on Monday, August 3rd. Investors 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 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 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 $13.36 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 Stock Up 1.3%

Watts Water Technologies stock opened at $350.42 on Tuesday. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies has a fifty-two week low of $251.17 and a fifty-two week high of $394.54. The stock's fifty day moving average is $341.30 and its two-hundred day moving average is $317.29.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million during the quarter, compared to analysts' expectations of $638.13 million. During the same quarter in the previous year, the business posted $2.37 earnings per share. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. Analysts predict that Watts Water Technologies will post 12.23 EPS for the current fiscal year.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider owned 8,963 shares of the company's stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the sale, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. E. Ohman J or Asset Management AB lifted its holdings in Watts Water Technologies by 18.4% in the second quarter. E. Ohman J or Asset Management AB now owns 76,425 shares of the technology company's stock worth $29,917,000 after acquiring an additional 11,876 shares during the last quarter. GAMMA Investing LLC lifted its stake in Watts Water Technologies by 11.4% in the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company's stock valued at $187,000 after buying an additional 49 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Watts Water Technologies by 69.8% during the second quarter. Versant Capital Management Inc now owns 674 shares of the technology company's stock valued at $264,000 after acquiring an additional 277 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Watts Water Technologies by 14.4% in the 1st quarter. Pacer Advisors Inc. now owns 9,355 shares of the technology company's stock worth $2,716,000 after acquiring an additional 1,181 shares during the period. Finally, Empowered Funds LLC lifted its position in Watts Water Technologies by 1,808.0% in the 1st quarter. Empowered Funds LLC now owns 27,876 shares of the technology company's stock valued at $8,092,000 after purchasing an additional 26,415 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

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.

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