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

Kayne Anderson Rudnick Investment Management LLC raised its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,050,215 shares of the technology company’s stock after purchasing an additional 29,473 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 6.14% of Watts Water Technologies worth $375,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in WTS. AE Wealth Management LLC lifted its stake in Watts Water Technologies by 64.9% in the second quarter. AE Wealth Management LLC now owns 71,555 shares of the technology company’s stock worth $13,121,000 after acquiring an additional 28,170 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Watts Water Technologies in the second quarter valued at $2,897,000. Benjamin F. Edwards & Company Inc. raised its stake in Watts Water Technologies by 76.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 394 shares of the technology company’s stock valued at $72,000 after buying an additional 171 shares in the last quarter. Inspire Investing LLC lifted its holdings in Watts Water Technologies by 14.0% during the 2nd quarter. Inspire Investing LLC now owns 1,968 shares of the technology company’s stock worth $361,000 after buying an additional 242 shares during the last quarter. Finally, MQS Management LLC boosted its position in shares of Watts Water Technologies by 37.3% during the 2nd quarter. MQS Management LLC now owns 3,236 shares of the technology company’s stock worth $593,000 after acquiring an additional 879 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Trading Down 0.8 %

WTS opened at $205.09 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The business’s 50 day moving average is $194.06 and its two-hundred day moving average is $197.69. Watts Water Technologies, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm had revenue of $597.30 million for the quarter, compared to analyst estimates of $589.55 million. During the same quarter last year, the company posted $2.34 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, research analysts predict that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus dropped their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, August 9th.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael J. Dubose sold 315 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Elie Melhem sold 1,710 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the transaction, the insider now directly owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.