State Board of Administration of Florida Retirement System Cuts Stock Holdings in Waters Co. (NYSE:WAT)

State Board of Administration of Florida Retirement System lowered its stake in shares of Waters Co. (NYSE:WATGet Rating) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,878 shares of the medical instruments supplier’s stock after selling 4,184 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Waters were worth $25,104,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WAT. Yousif Capital Management LLC purchased a new position in Waters during the fourth quarter worth approximately $3,622,000. Oregon Public Employees Retirement Fund raised its stake in shares of Waters by 139.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,282 shares of the medical instruments supplier’s stock valued at $4,576,000 after acquiring an additional 7,153 shares during the period. 6 Meridian purchased a new position in shares of Waters in the 4th quarter valued at $208,000. Pinnacle Associates Ltd. purchased a new position in shares of Waters in the 4th quarter valued at $589,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Waters by 22.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 318,255 shares of the medical instruments supplier’s stock valued at $118,582,000 after acquiring an additional 57,693 shares during the period. Hedge funds and other institutional investors own 90.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WAT. Bank of America raised shares of Waters from an “underperform” rating to a “neutral” rating and raised their target price for the company from $320.00 to $330.00 in a research note on Tuesday, May 17th. Robert W. Baird raised their target price on shares of Waters from $340.00 to $348.00 in a research note on Wednesday. UBS Group raised their target price on shares of Waters from $349.00 to $375.00 and gave the company a “neutral” rating in a research note on Thursday. Cowen raised their target price on shares of Waters to $358.00 in a research note on Friday, May 20th. Finally, Barclays assumed coverage on shares of Waters in a report on Tuesday, May 17th. They set an “overweight” rating and a $375.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Waters has a consensus rating of “Hold” and a consensus target price of $350.14.

Insider Activity

In other news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $328.78, for a total value of $1,315,120.00. Following the completion of the transaction, the director now directly owns 14,064 shares of the company’s stock, valued at approximately $4,623,961.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.77% of the company’s stock.

Waters Trading Up 1.0 %

NYSE WAT opened at $337.87 on Friday. Waters Co. has a one year low of $288.32 and a one year high of $428.22. The company has a 50-day simple moving average of $334.92 and a 200-day simple moving average of $323.29. The company has a debt-to-equity ratio of 3.85, a quick ratio of 1.75 and a current ratio of 0.99. The firm has a market capitalization of $20.35 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 4.10 and a beta of 0.81.

Waters (NYSE:WATGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 EPS for the quarter, beating the consensus estimate of $2.63 by $0.12. Waters had a net margin of 24.21% and a return on equity of 203.31%. The business had revenue of $714.30 million during the quarter, compared to analyst estimates of $706.77 million. During the same period in the previous year, the business posted $2.60 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Waters Co. will post 12 earnings per share for the current year.

Waters Company Profile

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Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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