Shares of Watts Water Technologies Inc. (NYSE:WTS) gapped up before the market opened on Tuesday . The stock had previously closed at $60.55, but opened at $61.05. Watts Water Technologies shares last traded at $62.69, with a volume of 104,948 shares.

Several analysts recently commented on WTS shares. TheStreet raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Watts Water Technologies in a report on Monday, May 16th. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, May 17th. BB&T Corp. raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $54.58 to $64.00 in a report on Friday, May 6th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 5th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.80.

The firm has a 50 day moving average price of $58.12 and a 200 day moving average price of $53.82. The stock’s market capitalization is $2.14 billion.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 4th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. During the same quarter in the prior year, the company earned $0.45 EPS. The firm earned $344.20 million during the quarter, compared to analysts’ expectations of $336.97 million. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, analysts forecast that Watts Water Technologies Inc. will post $2.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.15%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.17.

In related news, Director Joseph T. Noonan sold 3,922 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $57.45, for a total transaction of $225,318.90. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $287,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elie Melhem sold 1,238 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $55.91, for a total transaction of $69,216.58. Following the sale, the insider now owns 25,373 shares of the company’s stock, valued at approximately $1,418,604.43. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Watts Water Technologies by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,203,781 shares of the company’s stock worth $59,792,000 after buying an additional 10,159 shares during the period. Victory Capital Management Inc. increased its stake in Watts Water Technologies by 9.1% in the fourth quarter. Victory Capital Management Inc. now owns 545,373 shares of the company’s stock worth $27,088,000 after buying an additional 45,700 shares during the period. Principal Financial Group Inc. increased its stake in Watts Water Technologies by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 185,178 shares of the company’s stock worth $9,198,000 after buying an additional 3,638 shares during the period. Bank of Montreal Can increased its stake in Watts Water Technologies by 585.9% in the fourth quarter. Bank of Montreal Can now owns 35,250 shares of the company’s stock worth $1,751,000 after buying an additional 30,111 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in Watts Water Technologies by 8.0% in the fourth quarter. State of Wisconsin Investment Board now owns 152,353 shares of the company’s stock worth $7,567,000 after buying an additional 11,266 shares during the period.

Watts Water Technologies, Inc (Watts) 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.

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