Shares of Watts Water Technologies Inc. (NYSE:WTS) reached a new 52-week high on Wednesday . The stock traded as high as $63.63 and last traded at $63.56, with a volume of 64,677 shares trading hands. The stock had previously closed at $62.64.

WTS has been the subject of several recent research reports. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, May 5th. BB&T Corp. upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $54.58 to $64.00 in a research note on Friday, May 6th. Robert W. Baird reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Sunday, May 8th. Wedbush upped their price target on shares of Watts Water Technologies from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 9th. Finally, Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, May 17th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $59.80.

The stock’s 50-day moving average price is $60.26 and its 200 day moving average price is $55.80. The company’s market capitalization is $2.18 billion.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Thursday, August 4th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. During the same period last year, the business earned $0.69 earnings per share. The firm earned $371.10 million during the quarter, compared to the consensus estimate of $367.14 million. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies Inc. will post $2.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.15%.

In other Watts Water Technologies news, insider Elie Melhem sold 1,238 shares of Watts Water Technologies stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $55.91, for a total transaction of $69,216.58. Following the completion of the transaction, the insider now directly owns 25,373 shares of the company’s stock, valued at $1,418,604.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 25,000 shares of Watts Water Technologies stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $57.14, for a total value of $1,428,500.00. Following the transaction, the insider now directly owns 25,000 shares of the company’s stock, valued at $1,428,500. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently modified their holdings of WTS. Nationwide Fund Advisors boosted its position in shares of Watts Water Technologies by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 22,298 shares of the company’s stock worth $1,108,000 after buying an additional 190 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Watts Water Technologies by 4.1% in the fourth quarter. Rhumbline Advisers now owns 49,117 shares of the company’s stock worth $2,440,000 after buying an additional 1,940 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Watts Water Technologies by 2.0% in the fourth quarter. California Public Employees Retirement System now owns 91,200 shares of the company’s stock worth $4,530,000 after buying an additional 1,800 shares during the last quarter. Bank of Montreal Can boosted its position in shares of 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 last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of 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 last quarter.

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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