Watts Water Technologies, Inc. (NYSE:WTS) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 39,235 shares of the technology company's stock after purchasing an additional 3,305 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of Watts Water Technologies worth $7,977,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Watts Water Technologies by 18.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock valued at $500,804,000 after acquiring an additional 386,333 shares during the last quarter. Norges Bank bought a new position in Watts Water Technologies in the 4th quarter valued at $60,887,000. Champlain Investment Partners LLC grew its position in Watts Water Technologies by 85.1% in the 4th quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock valued at $85,798,000 after acquiring an additional 194,033 shares during the last quarter. Raymond James Financial Inc. bought a new position in Watts Water Technologies in the 4th quarter valued at $23,044,000. Finally, Wealthfront Advisers LLC bought a new position in Watts Water Technologies in the 4th quarter valued at $9,773,000. Institutional investors own 95.02% of the company's stock.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the transaction, the insider now directly owns 10,469 shares in the company, valued at $2,204,038.57. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shashank Patel sold 8,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $245.00, for a total value of $1,960,000.00. Following the completion of the transaction, the chief financial officer now owns 2,754 shares of the company's stock, valued at approximately $674,730. The trade was a 74.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,165 shares of company stock worth $3,074,168 over the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group upped their target price on Watts Water Technologies from $197.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $222.00.

Watts Water Technologies Stock Up 2.9%

Shares of NYSE WTS traded up $6.84 during mid-day trading on Tuesday, reaching $244.13. 148,027 shares of the company were exchanged, compared to its average volume of 175,568. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 3.42 and a beta of 1.08. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $248.17. The firm has a 50-day moving average of $212.65 and a 200 day moving average of $211.19.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.25. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. The firm had revenue of $558.00 million during the quarter, compared to analysts' expectations of $547.58 million. During the same period in the prior year, the business posted $2.33 EPS. The firm's quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.85%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. Watts Water Technologies's dividend payout ratio (DPR) is presently 23.83%.

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.