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

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,050,215 shares of the technology company’s stock after purchasing an additional 29,473 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.06% of Watts Water Technologies worth $375,948,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Park Avenue Securities LLC lifted its stake in Watts Water Technologies by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock valued at $350,000 after buying an additional 67 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of Watts Water Technologies by 1.2% during the second quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock valued at $1,178,000 after acquiring an additional 76 shares during the last quarter. Fifth Third Bancorp increased its position in Watts Water Technologies by 30.0% during the 2nd quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock worth $62,000 after purchasing an additional 78 shares in the last quarter. Retirement Systems of Alabama raised its stake in Watts Water Technologies by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 34,367 shares of the technology company’s stock valued at $7,305,000 after purchasing an additional 90 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Watts Water Technologies by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 6,695 shares of the technology company’s stock valued at $1,423,000 after purchasing an additional 100 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Trading Down 0.8 %

Shares of WTS stock opened at $205.09 on Friday. The firm’s 50-day simple moving average is $194.06 and its 200-day simple moving average is $197.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. Watts Water Technologies, Inc. has a 1-year low of $167.87 and a 1-year high of $219.52. The firm has a market cap of $6.84 billion, a P/E ratio of 25.45, a PEG ratio of 2.80 and a beta of 0.89.

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

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Robert W. Baird lowered their target price on shares of 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. Finally, Stifel Nicolaus reduced their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research note on Friday, August 9th.

Insiders Place Their Bets

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

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.