Kayne Anderson Rudnick Investment Management LLC Grows Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Kayne Anderson Rudnick Investment Management LLC grew its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,463,375 shares of the technology company's stock after purchasing an additional 386,333 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.39% of Watts Water Technologies worth $500,804,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Boston Partners increased its holdings in Watts Water Technologies by 7.6% in the 4th quarter. Boston Partners now owns 632,155 shares of the technology company's stock worth $128,527,000 after buying an additional 44,465 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Watts Water Technologies by 85.1% in the fourth quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock worth $85,798,000 after acquiring an additional 194,033 shares during the period. KBC Group NV raised its holdings in shares of Watts Water Technologies by 6.5% during the fourth quarter. KBC Group NV now owns 323,007 shares of the technology company's stock worth $65,667,000 after purchasing an additional 19,598 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Watts Water Technologies by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company's stock valued at $64,996,000 after purchasing an additional 3,296 shares during the period. Finally, Norges Bank purchased a new stake in Watts Water Technologies in the fourth quarter valued at $60,887,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

NYSE WTS traded up $0.29 during trading hours on Wednesday, reaching $204.48. The company's stock had a trading volume of 216,228 shares, compared to its average volume of 168,889. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 3.42 and a beta of 0.95. The company's 50-day moving average is $205.56 and its two-hundred day moving average is $206.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. On average, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.84%. Watts Water Technologies's dividend payout ratio is currently 19.79%.

Analyst Upgrades and Downgrades

WTS has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Stifel Nicolaus upgraded Watts Water Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.00.

Insider Buying and Selling

In other news, insider Elie Melhem sold 4,397 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares of the company's stock, valued at $2,204,038.57. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.