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

Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,463,375 shares of the technology company's stock after acquiring an additional 386,333 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 7.39% of Watts Water Technologies worth $500,804,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth about $60,887,000. Champlain Investment Partners LLC boosted its stake 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 worth $85,798,000 after purchasing an additional 194,033 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Watts Water Technologies during the 4th quarter worth approximately $23,044,000. Wealthfront Advisers LLC acquired a new position in Watts Water Technologies during the 4th quarter valued at approximately $9,773,000. Finally, Boston Partners raised its holdings in shares of Watts Water Technologies by 7.6% in the fourth 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 last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

WTS stock traded down $3.09 during trading on Friday, hitting $206.44. 49,224 shares of the company traded hands, compared to its average volume of 169,127. 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. The stock's 50-day simple moving average is $205.28 and its 200 day simple moving average is $206.98. The company has a market cap of $6.88 billion, a PE ratio of 23.73, a P/E/G ratio of 3.42 and a beta of 0.95.

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

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, February 28th. Watts Water Technologies's dividend payout ratio (DPR) is presently 19.79%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WTS shares. Stifel Nicolaus raised shares of Watts Water Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $219.00 to $229.00 in a report on Wednesday, April 16th. The Goldman Sachs Group increased their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $222.00.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total transaction of $925,700.41. Following the transaction, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

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.