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NORTH ANDOVER, Mass. - Watts Water Technologies, Inc. (NYSE:WTS), a leading global manufacturer of plumbing, heating, and water quality products, has announced that it will pay a quarterly dividend of $0.43 per share on its Class A Common Stock and Class B Common Stock. This dividend is scheduled for payment on March 14, 2025, to shareholders of record as of February 28, 2025. According to InvestingPro data, WTS has maintained dividend payments for 39 consecutive years and has raised its dividend for 12 straight years, with an impressive 19.44% dividend growth in the last twelve months.
The company, headquartered in the United States, operates a family of companies providing a wide range of solutions for commercial, residential, and industrial applications. With a market capitalization of $6.85 billion, Watts Water Technologies is known for its comprehensive product lines that cater to the diverse needs of the plumbing and heating sectors, as well as water quality management. InvestingPro analysis shows the company maintains strong financial health with a "GREAT" overall score, supported by robust liquidity metrics and solid cash flow generation.
This dividend declaration follows the company’s tradition of returning value to its shareholders and reflects its ongoing financial performance. The current dividend yield stands at 0.83%, and the company’s commitment to shareholder returns is backed by strong fundamentals, including a healthy P/E ratio of 24.7. For deeper insights into WTS’s valuation and financial metrics, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
The announcement is based on a press release statement from Watts Water Technologies, Inc. and serves as an update for investors and the market regarding the company’s latest financial distributions. The specified dividend amount of $0.43 per share presents an opportunity for investors to gauge the company’s financial health and shareholder value proposition. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading near its fair value, with multiple ProTips highlighting the company’s strong financial position and consistent dividend history.
Watts Water Technologies has established itself as a significant player in its industry, providing innovative solutions through its various brands and companies. The scheduled dividend payout is part of the company’s financial strategy, aimed at maintaining investor confidence and ensuring a stable return on investment.
As the payment date approaches, shareholders who are recorded by the close of business on February 28, 2025, will be eligible to receive the declared dividend. This event is an important note for current and potential investors, as it reflects the company’s consistent approach to managing its financial obligations and rewarding its shareholders.
In other recent news, Watts Water Technologies has been the subject of several analyst reviews. Deutsche Bank (ETR:DBKGn) maintains a Hold rating on the company, setting a price target of $240. The firm acknowledges the potential for a construction recovery to drive significant revisions to earnings per share forecasts, but expresses uncertainty about a robust recovery by 2025. Watts Water’s move towards Smart & Connected products and its exposure to the rapidly expanding data center sector were also highlighted by Deutsche Bank.
Simultaneously, Seaport Global Securities reiterated its Neutral rating on Watts Water, despite the company’s third-quarter earnings surpassing expectations due to strong demand in the Americas. The firm adjusted its earnings per share estimates for Watts Water, raising the 2024 forecast to $8.75 and the 2025 estimate to $9.01. However, a weaker sales outlook, particularly in Europe, led to a reduction in the fourth-quarter EPS estimate for 2024.
Among other developments, Watts Water reported a robust year-to-date free cash flow of $204 million and is preparing for strategic mergers and acquisitions. The company has also announced the potential closure of a manufacturing plant in France and the retirement of CFO Shashank Patel in 2025. Lastly, the company is focusing on its future with the launch of Nexa, a SaaS water management solution.
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