Watts Water Technologies, Inc. (NYSE:WTS)‘s stock had its “neutral” rating reissued by analysts at Seaport Global Securities in a research note issued on Friday.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus restated a “buy” rating and set a $79.00 target price on shares of Watts Water Technologies in a research report on Friday. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Monday, September 18th. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Tuesday, October 3rd. Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a research report on Thursday, November 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $71.00 target price on shares of Watts Water Technologies in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $72.83.

Watts Water Technologies (NYSE:WTS) traded down $0.55 during trading on Friday, hitting $69.00. 176,650 shares of the stock were exchanged, compared to its average volume of 115,659. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57. The company has a market cap of $2,340.00, a P/E ratio of 23.82, a PEG ratio of 1.93 and a beta of 1.12. Watts Water Technologies has a 12-month low of $59.15 and a 12-month high of $71.05.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $347.70 million for the quarter, compared to analyst estimates of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. sell-side analysts forecast that Watts Water Technologies will post 3.01 earnings per share for the current year.

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In related news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the sale, the insider now owns 32,128 shares in the company, valued at $1,995,470.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in 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 purchasing an additional 3,541,642 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Watts Water Technologies by 10.7% in the second quarter. Victory Capital Management Inc. now owns 597,983 shares of the technology company’s stock valued at $37,793,000 after purchasing an additional 57,894 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Watts Water Technologies by 9.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 172,155 shares of the technology company’s stock valued at $10,734,000 after purchasing an additional 14,482 shares during the last quarter. Morgan Stanley increased its holdings in shares of Watts Water Technologies by 0.9% in the first quarter. Morgan Stanley now owns 162,153 shares of the technology company’s stock worth $10,110,000 after acquiring an additional 1,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Watts Water Technologies by 5.4% in the second quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock worth $45,448,000 after acquiring an additional 36,723 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

About Watts Water Technologies

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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