Watts Water Technologies (NYSE:WTS) Hits New 52-Week High After Dividend Announcement

Shares of Watts Water Technologies, Inc. (NYSE:WTS) reached a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $321.74 and last traded at $319.47, with a volume of 2134 shares. The stock had previously closed at $308.80.

The newly announced dividend which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s payout ratio is currently 21.47%.

Analyst Upgrades and Downgrades

WTS has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. HSBC initiated coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Finally, Royal Bank Of Canada initiated coverage on Watts Water Technologies in a research report on Monday, January 5th. They issued a “sector perform” rating and a $288.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $288.57.

Watts Water Technologies Stock Performance

The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.97 and a beta of 1.24. The firm has a 50 day moving average price of $288.85 and a 200-day moving average price of $279.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the sale, the insider owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. This represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,611 shares of company stock worth $2,347,509 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Watts Water Technologies by 79.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock worth $78,067,000 after buying an additional 125,218 shares during the period. Texas Yale Capital Corp. increased its position in Watts Water Technologies by 68.6% in the 4th quarter. Texas Yale Capital Corp. now owns 1,585 shares of the technology company’s stock valued at $437,000 after acquiring an additional 645 shares during the period. Norges Bank purchased a new stake in Watts Water Technologies during the 4th quarter valued at approximately $100,627,000. Future Fund LLC lifted its position in Watts Water Technologies by 40.1% during the 4th quarter. Future Fund LLC now owns 7,485 shares of the technology company’s stock worth $2,066,000 after acquiring an additional 2,142 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth approximately $2,848,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

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.