Kingsview Wealth Management LLC Invests $2.49 Million in Watts Water Technologies, Inc. (NYSE:WTS)

Kingsview Wealth Management LLC purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,201 shares of the technology company's stock, valued at approximately $2,488,000.

Several other hedge funds also recently modified their holdings of WTS. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 acquiring an additional 386,333 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of 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 acquiring an additional 194,033 shares in the last quarter. Northern Trust Corp boosted its stake in shares of 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 acquiring an additional 40,738 shares in the last quarter. KBC Group NV boosted its stake in shares of 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 acquiring an additional 1,662 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Watts Water Technologies during the 4th quarter worth $60,887,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 0.2%

Shares of Watts Water Technologies stock traded down $0.52 during midday trading on Friday, hitting $251.00. The company's stock had a trading volume of 243,178 shares, compared to its average volume of 175,845. The firm has a market capitalization of $8.38 billion, a P/E ratio of 28.75, a PEG ratio of 3.60 and a beta of 1.12. The stock has a 50-day simple moving average of $245.20 and a 200-day simple moving average of $220.41. The company has a quick ratio of 1.53, a current ratio of 2.46 and a debt-to-equity ratio of 0.11. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $260.93.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.12 by $0.25. The business had revenue of $558.00 million during the quarter, compared to analysts' expectations 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 revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, sell-side 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 was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.83%. This is a positive change from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, May 30th. Watts Water Technologies's dividend payout ratio (DPR) is currently 23.83%.

Insider Buying and Selling

In related news, major shareholder Timothy P. Horne sold 7,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total transaction of $1,692,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Monica Barry sold 768 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $245.40, for a total value of $188,467.20. Following the sale, the insider owned 6,236 shares of the company's stock, valued at approximately $1,530,314.40. This represents a 10.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,768 shares of company stock worth $3,841,417. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WTS. Northcoast Research lowered Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Stifel Nicolaus set a $275.00 price objective on Watts Water Technologies and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies has an average rating of "Hold" and an average price target of $231.20.

Watts Water Technologies Company 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.