Cim Investment Management Inc. Sells 488 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Cim Investment Management Inc. reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 19.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,037 shares of the technology company’s stock after selling 488 shares during the quarter. Cim Investment Management Inc.’s holdings in Watts Water Technologies were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Watts Water Technologies in the 1st quarter worth $26,000. Gradient Investments LLC purchased a new stake in shares of Watts Water Technologies during the second quarter worth about $31,000. Benjamin F. Edwards & Company Inc. raised its stake in Watts Water Technologies by 502.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock valued at $47,000 after purchasing an additional 186 shares during the period. EntryPoint Capital LLC purchased a new position in Watts Water Technologies in the 1st quarter worth approximately $53,000. Finally, Blue Trust Inc. boosted its stake in Watts Water Technologies by 520.5% in the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after purchasing an additional 229 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Watts Water Technologies Stock Down 0.2 %

Shares of WTS opened at $207.51 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.97 and a beta of 0.89. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52. The business’s 50 day simple moving average is $194.93 and its 200-day simple moving average is $197.74.

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, beating analysts’ consensus estimates of $2.33 by $0.13. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. During the same quarter in the prior year, the firm earned $2.34 earnings per share. Watts Water Technologies’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.43 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies’s dividend payout ratio is currently 21.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their price objective on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research report 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 decreased their price target on shares of 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.

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.