Shares of Watts Water Technologies Inc. (NYSE:WTS) gapped up prior to trading on Thursday . The stock had previously closed at $63.25, but opened at $63.60. Watts Water Technologies shares last traded at $65.18, with a volume of 50,003 shares trading hands.

WTS has been the subject of several recent analyst reports. Seaport Global Securities cut Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price target for the company. in a report on Friday, June 10th. TheStreet raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Northcoast Research initiated coverage on Watts Water Technologies in a report on Friday, July 8th. They set a “neutral” rating for the company. Sterne Agee CRT reaffirmed a “buy” rating on shares of Watts Water Technologies in a report on Monday, May 16th. Finally, Zacks Investment Research cut Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $59.80.

The firm has a 50-day moving average of $60.69 and a 200-day moving average of $56.06. The company’s market capitalization is $2.23 billion.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, August 4th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The company had revenue of $371.10 million for the quarter, compared to the consensus estimate of $367.14 million. During the same period last year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that Watts Water Technologies Inc. will post $2.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, August 31st.

In other news, Director Joseph T. Noonan sold 3,922 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $57.45, for a total transaction of $225,318.90. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $287,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elie Melhem sold 5,192 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $62.44, for a total value of $324,188.48. Following the transaction, the insider now directly owns 32,656 shares of the company’s stock, valued at $2,039,040.64. The disclosure for this sale can be found here.

Other institutional investors have modified their holdings of the company. Nationwide Fund Advisors raised 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 period. Bank of Montreal Can raised 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 period. Rhumbline Advisers raised 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 period. KBC Group NV raised its position in shares of Watts Water Technologies by 41.5% in the fourth quarter. KBC Group NV now owns 49,297 shares of the company’s stock worth $2,449,000 after buying an additional 14,453 shares during the period. Finally, California Public Employees Retirement System raised 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 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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