Zacks Investment Research upgraded shares of Watts Water Technologies (NYSE:WTS) from a hold rating to a buy rating in a report released on Saturday. They currently have $84.00 price target on the technology company’s stock.

According to Zacks, “The continued execution of key strategic initiatives, including the transformation and restructuring actions undertaken by Watts Water will benefit its fourth-quarter 2017 earnings. Watts Water expects organic sales growth rate to improve on a sequential basis driven by consistent growth in Americas from relatively healthy end markets. Europe and Asia-Pacific are also likely to improve over third-quarter levels. The company will also gain from its buyouts and new product development strategies. The company has positive record of earnings surprises in recent quarters. Moreover, the stock has outperformed the industry with respect to price performance over the past three months.”

Several other brokerages have also recently issued reports on WTS. Northcoast Research set a $90.00 price objective on shares of Watts Water Technologies and gave the company a buy rating in a research note on Friday, January 19th. Stifel Nicolaus reissued a buy rating and issued a $95.00 price objective (up from $85.00) on shares of Watts Water Technologies in a research note on Tuesday, January 16th. Boenning Scattergood reissued a buy rating on shares of Watts Water Technologies in a research note on Monday, November 20th. Robert W. Baird boosted their price objective on shares of Watts Water Technologies from $71.00 to $76.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Finally, KeyCorp restated a hold rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $78.17.

Watts Water Technologies (NYSE WTS) opened at $72.80 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.70. The stock has a market cap of $2,485.97, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13. Watts Water Technologies has a 12 month low of $59.15 and a 12 month high of $82.35.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. Watts Water Technologies’s payout ratio is currently 28.15%.

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 11,852 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the sale, the chief executive officer now directly owns 137,474 shares in the company, valued at approximately $10,108,463.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elie Melhem sold 2,545 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total transaction of $179,371.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,348 shares of company stock worth $1,339,628 over the last 90 days. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Teachers Advisors LLC boosted its position in shares of Watts Water Technologies by 5.2% in the 2nd quarter. Teachers Advisors LLC now owns 49,559 shares of the technology company’s stock worth $3,132,000 after buying an additional 2,463 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Watts Water Technologies by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock worth $1,103,000 after buying an additional 131 shares in the last quarter. Amalgamated Bank boosted its position in shares of Watts Water Technologies by 3.5% in the 2nd quarter. Amalgamated Bank now owns 3,813 shares of the technology company’s stock worth $241,000 after buying an additional 128 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Watts Water Technologies by 4.9% in the 2nd quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock worth $1,877,000 after buying an additional 1,399 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Watts Water Technologies by 4.7% in the 2nd quarter. California Public Employees Retirement System now owns 73,000 shares of the technology company’s stock worth $4,614,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 77.75% of the company’s stock.

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Watts Water Technologies Company Profile

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.

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