Fenimore Asset Management Inc. decreased its stake in shares of Waters Corp. (NYSE:WAT) by 11.0% during the third quarter, Holdings Channel reports. The institutional investor owned 280,436 shares of the company’s stock after selling 34,528 shares during the period. Waters Corp. accounts for approximately 2.1% of Fenimore Asset Management Inc.’s portfolio, making the stock its 17th largest position. Fenimore Asset Management Inc.’s holdings in Waters Corp. were worth $44,446,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in Waters Corp. by 24.8% in the second quarter. Van ECK Associates Corp now owns 719 shares of the company’s stock valued at $101,000 after buying an additional 143 shares in the last quarter. Creative Planning increased its stake in Waters Corp. by 267.6% in the third quarter. Creative Planning now owns 772 shares of the company’s stock valued at $122,000 after buying an additional 562 shares in the last quarter. Roble Belko & Company Inc bought a new stake in Waters Corp. during the second quarter valued at approximately $113,000. Advisor Group Inc. bought a new stake in Waters Corp. during the second quarter valued at approximately $132,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Waters Corp. by 61.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,008 shares of the company’s stock valued at $142,000 after buying an additional 384 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Waters Corp. (NYSE:WAT) traded down 0.341% during midday trading on Wednesday, reaching $156.295. The company’s stock had a trading volume of 222,390 shares. Waters Corp. has a 12 month low of $112.00 and a 12 month high of $162.53. The stock has a market capitalization of $12.59 billion, a PE ratio of 26.189 and a beta of 0.83. The stock’s 50 day moving average is $157.04 and its 200 day moving average is $145.29.
Waters Corp. (NYSE:WAT) last issued its earnings results on Tuesday, July 26th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.13. Waters Corp. had a net margin of 23.33% and a return on equity of 24.69%. The firm had revenue of $537 million for the quarter, compared to analysts’ expectations of $523.23 million. During the same quarter last year, the company posted $1.32 earnings per share. Waters Corp.’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Waters Corp. will post $6.57 EPS for the current fiscal year.
Several analysts have commented on the company. Cantor Fitzgerald upped their price objective on Waters Corp. from $163.00 to $173.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Citigroup Inc. boosted their target price on Waters Corp. from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded Waters Corp. from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Wednesday, June 29th. Mizuho boosted their target price on Waters Corp. from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Evercore ISI boosted their target price on Waters Corp. from $140.50 to $154.00 and gave the stock a “hold” rating in a research report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $149.77.
In other news, EVP Arthur G. Caputo sold 104,785 shares of Waters Corp. stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $158.54, for a total transaction of $16,612,613.90. Following the sale, the executive vice president now owns 191,732 shares of the company’s stock, valued at $30,397,191.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrence P. Kelly sold 28,600 shares of Waters Corp. stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $156.74, for a total value of $4,482,764.00. Following the sale, the insider now directly owns 12,158 shares in the company, valued at approximately $1,905,644.92. The disclosure for this sale can be found here. Insiders own 5.45% of the company’s stock.
Waters Corp. Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company designs, manufactures, distributes and services instrument systems, columns and other chemistry consumables that are integrated and used along with other analytical instruments. The Company operates through two segments: Waters Division and TA Division.
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