Watts Water Technologies Inc. (WTS) To Go Ex-Dividend on November 30th
Watts Water Technologies Inc. (NYSE:WTS) announced a quarterly dividend on Tuesday, November 1st. Shareholders of record on Friday, December 2nd will be paid a dividend of 0.18 per share on Friday, December 16th. This represents a $0.72 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 30th.
Shares of Watts Water Technologies (NYSE:WTS) opened at 68.65 on Tuesday. Watts Water Technologies has a 52 week low of $44.51 and a 52 week high of $69.85. The firm’s 50-day moving average price is $64.01 and its 200 day moving average price is $61.85. The company’s market capitalization is $2.35 billion.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Watts Water Technologies had a positive return on equity of 12.41% and a negative net margin of 3.64%. The company had revenue of $341 million for the quarter, compared to the consensus estimate of $352.64 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities analysts predict that Watts Water Technologies will post $2.67 EPS for the current year.
Several equities research analysts have recently issued reports on WTS shares. Janney Montgomery Scott started coverage on shares of Watts Water Technologies in a research note on Friday, September 16th. They set a “neutral” rating and a $63.00 target price on the stock. Zacks Investment Research lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.40.
In related news, insider Elie Melhem sold 6,143 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $67.78, for a total value of $416,372.54. Following the transaction, the insider now directly owns 32,464 shares of the company’s stock, valued at approximately $2,200,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Cathcart sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $68.47, for a total transaction of $68,470.00. Following the completion of the transaction, the director now directly owns 18,032 shares in the company, valued at $1,234,651.04. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. bought a new position in shares of Watts Water Technologies during the second quarter worth $100,000. Paradigm Asset Management Co. LLC raised its position in shares of Watts Water Technologies by 3.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,800 shares of the company’s stock worth $163,000 after buying an additional 100 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Watts Water Technologies during the second quarter worth $226,000. Profund Advisors LLC raised its position in shares of Watts Water Technologies by 2.3% in the second quarter. Profund Advisors LLC now owns 6,703 shares of the company’s stock worth $391,000 after buying an additional 153 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Watts Water Technologies during the third quarter worth $412,000. 81.43% of the stock is currently owned by hedge funds and other institutional investors.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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