Cerity Partners LLC Buys 1,033 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Cerity Partners LLC lifted its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,443 shares of the technology company's stock after purchasing an additional 1,033 shares during the period. Cerity Partners LLC's holdings in Watts Water Technologies were worth $2,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Watts Water Technologies by 18.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock worth $500,804,000 after buying an additional 386,333 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Watts Water Technologies by 85.1% during the 4th quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock worth $85,798,000 after buying an additional 194,033 shares during the last quarter. Northern Trust Corp lifted its holdings in Watts Water Technologies by 11.4% during the 4th quarter. Northern Trust Corp now owns 398,341 shares of the technology company's stock worth $80,983,000 after buying an additional 40,738 shares during the last quarter. KBC Group NV lifted its holdings in Watts Water Technologies by 0.5% during the 1st quarter. KBC Group NV now owns 324,669 shares of the technology company's stock worth $66,207,000 after buying an additional 1,662 shares during the last quarter. Finally, Norges Bank purchased a new stake in Watts Water Technologies during the 4th quarter worth about $60,887,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS stock traded up $1.90 during trading hours on Tuesday, reaching $250.58. 149,490 shares of the company's stock were exchanged, compared to its average volume of 175,859. The company has a market cap of $8.36 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.56 and a beta of 1.12. The company's 50 day moving average is $245.20 and its two-hundred day moving average is $220.55. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $260.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.46 and a quick ratio of 1.53.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.25. The firm had revenue of $558.00 million during the quarter, compared to the consensus estimate of $547.58 million. Watts Water Technologies had a return on equity of 17.59% and a net margin of 13.07%. Watts Water Technologies's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. Equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.08 dividend on an annualized basis and a yield of 0.83%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. Watts Water Technologies's dividend payout ratio (DPR) is presently 23.83%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, CFO Shashank Patel sold 8,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $245.00, for a total transaction of $1,960,000.00. Following the transaction, the chief financial officer owned 2,754 shares in the company, valued at $674,730. The trade was a 74.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Timothy P. Horne sold 7,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total value of $1,692,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,768 shares of company stock worth $3,841,417. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WTS shares. Northcoast Research downgraded Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Stifel Nicolaus boosted their target price on Watts Water Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $234.20.

About Watts Water Technologies

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.