Kayne Anderson Rudnick Amends Watts Water Tech Stake

TL;DR

**Kayne Anderson Rudnick still holds Watts Water Tech stock, signaling continued institutional interest.**

AI Summary

Kayne Anderson Rudnick Investment Management LLC, a California-based investment firm, filed an Amendment No. 3 to its SC 13G filing for Watts Water Technologies Inc. on February 13, 2024. This filing indicates their ownership of Class A Common Stock in Watts Water Technologies as of December 31, 2023. This matters to investors because it shows a significant institutional investor continues to hold a position in the company, suggesting ongoing confidence in its prospects.

Why It Matters

This filing confirms that a major institutional investor, Kayne Anderson Rudnick, maintains its position in Watts Water Technologies, which can be seen as a vote of confidence in the company's future performance.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an institutional investor, indicating no immediate significant risk or change in company fundamentals.

Analyst Insight

An investor should note that Kayne Anderson Rudnick Investment Management LLC continues to hold a position in Watts Water Technologies Inc. as of December 31, 2023. While this filing doesn't disclose the exact number of shares or percentage owned, it confirms ongoing institutional interest. Investors might consider researching Kayne Anderson Rudnick's investment philosophy and Watts Water Technologies' recent performance to understand the implications of this continued holding.

Key Players & Entities

• Kayne Anderson Rudnick Investment Management LLC (company) — the reporting person and institutional investor
• Watts Water Technologies Inc. (company) — the subject company whose stock is being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A
• Class A Common Stock (other) — the type of securities held

FAQ

Filing Documents

• fp0086862-52_sc13ga.htm (SC 13G/A) — 43KB
• 0001398344-24-002790.txt ( ) — 45KB

If this statement is filed pursuant to §§240.13d-1(b)

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with §240.13d-1(b)(1)(ii)(J). CUSIP No. 942749102 13G Page 4 of 5 Pages

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 2,007,563 (b) Percent of class: 7.34% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,418,814 (ii) Shared power to vote or to direct the vote: 379,374 (iii) Sole power to dispose or to direct the disposition of: 1,628,189 (iv) Shared power to dispose or to direct the disposition of: 379,374

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ] . Instruction . Dissolution of a group requires a response to this item. N/A

Ownership of More than Five Percent on Behalf of Another

Item 6. Ownership of More than Five Percent on Behalf of Another Person. N/A

Identification and Classification of the Subsidiary Which

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A CUSIP No. 942749102 13G Page 5 of 5 Pages

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Kayne Anderson Rudnick Investment Management, LLC By: /s/ Michael Shoemaker Name: Michael Shoemaker Title: Chief Compliance Officer Date: February 13, 2024

View Full Filing

View this SC 13G/A filing on SEC EDGAR