Watts Water Technologies, Inc. (NYSE:WTS) was upgraded by investment analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat.com reports.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. Finally, Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.00.

Watts Water Technologies (NYSE WTS) traded up 4.53% during mid-day trading on Monday, reaching $66.90. 164,416 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $63.35 and a 200 day moving average price of $62.74. The company has a market cap of $2.29 billion, a PE ratio of 26.13 and a beta of 1.06. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same period in the prior year, the business earned $0.75 EPS. Watts Water Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts predict that Watts Water Technologies will post $2.99 earnings per share for the current fiscal year.

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In other news, insider Elie Melhem sold 3,306 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after buying an additional 3,541,642 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after buying an additional 205,883 shares in the last quarter. Impax Asset Management LTD grew its stake in shares of Watts Water Technologies by 28.2% in the first quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock valued at $125,846,000 after buying an additional 444,528 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Watts Water Technologies by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 953,898 shares of the technology company’s stock valued at $60,286,000 after buying an additional 30,001 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after buying an additional 67,767 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc 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.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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