Watts Water Technologies, Inc. - (WTS) Declares $0.36 Dividend

Watts Water Technologies, Inc. - said on May 2, 2023 that its board of directors declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Previously, the company paid $0.30 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.

At the current share price of $167.01 / share, the stock's dividend yield is 0.86%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.90%, the lowest has been 0.50%, and the highest has been 1.36%. The standard deviation of yields is 0.18 (n=237).

The current dividend yield is 0.19 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 664 funds or institutions reporting positions in Watts Water Technologies, Inc. -. This is an increase of 14 owner(s) or 2.15% in the last quarter. Average portfolio weight of all funds dedicated to WTS is 0.21%, an increase of 7.62%. Total shares owned by institutions increased in the last three months by 0.45% to 29,038K shares. The put/call ratio of WTS is 3.28, indicating a bearish outlook.

Analyst Price Forecast Suggests 1.38% Upside

As of April 24, 2023, the average one-year price target for Watts Water Technologies, Inc. - is 169.32. The forecasts range from a low of 131.30 to a high of $189.00. The average price target represents an increase of 1.38% from its latest reported closing price of 167.01.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Watts Water Technologies, Inc. - is 1,979MM, a decrease of 0.03%. The projected annual non-GAAP EPS is 6.89.

What are Other Shareholders Doing?

Kayne Anderson Rudnick Investment Management holds 2,092K shares representing 6.27% ownership of the company. In it's prior filing, the firm reported owning 2,119K shares, representing a decrease of 1.31%. The firm increased its portfolio allocation in WTS by 7.95% over the last quarter.

Impax Asset Management Group holds 1,952K shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 1,914K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in WTS by 99.90% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 843K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 797K shares, representing an increase of 5.35%. The firm increased its portfolio allocation in WTS by 7.25% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 833K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 820K shares, representing an increase of 1.49%. The firm increased its portfolio allocation in WTS by 9.03% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 703K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 693K shares, representing an increase of 1.39%. The firm increased its portfolio allocation in WTS by 9.19% over the last quarter.

Watts Water Technologies Background Information
(This description is provided by the company.)

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions for residential, commercial, and industrial applications. The company employs 4,800 people across 27 countries.

This story originally appeared on Fintel.