Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $69.20.

A number of brokerages have commented on WTS. BidaskClub raised Watts Water Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. Robert W. Baird reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Watts Water Technologies in a report on Wednesday, October 4th. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Monday, September 18th. Finally, Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Tuesday, October 3rd.

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In other news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the sale, the insider now directly owns 32,128 shares in the company, valued at approximately $1,995,470.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WTS. BlackRock Inc. lifted its position in shares of Watts Water Technologies by 14,402.8% during the 1st quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after acquiring an additional 3,541,642 shares during the period. Vanguard Group Inc. lifted its position in shares of Watts Water Technologies by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after acquiring an additional 205,883 shares during the period. Renaissance Technologies LLC lifted its position in shares of Watts Water Technologies by 139.1% during the 2nd quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock valued at $13,070,000 after acquiring an additional 120,300 shares during the period. Palisade Capital Management LLC NJ lifted its position in shares of Watts Water Technologies by 71.6% during the 2nd quarter. Palisade Capital Management LLC NJ now owns 182,026 shares of the technology company’s stock valued at $11,504,000 after acquiring an additional 75,934 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Watts Water Technologies by 9.8% during the 2nd quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after acquiring an additional 67,767 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Shares of Watts Water Technologies (NYSE:WTS) traded up 0.30% on Friday, reaching $67.30. The company had a trading volume of 113,837 shares. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 26.29 and a beta of 1.08. The company’s 50-day moving average price is $66.83 and its 200-day moving average price is $63.88.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating 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 firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. During the same period in the prior year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Watts Water Technologies will post $2.99 earnings per share for the current year.

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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