Fulton Bank N.A. Increases Position in Waters Co. (NYSE:WAT)

Fulton Bank N.A. lifted its holdings in shares of Waters Co. (NYSE:WATFree Report) by 8.4% during the first quarter, Holdings Channel reports. The fund owned 3,404 shares of the medical instruments supplier’s stock after purchasing an additional 265 shares during the quarter. Fulton Bank N.A.’s holdings in Waters were worth $1,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Waters by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,837,662 shares of the medical instruments supplier’s stock worth $2,251,163,000 after acquiring an additional 64,525 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd acquired a new position in Waters in the fourth quarter valued at approximately $361,839,000. Nordea Investment Management AB boosted its stake in Waters by 129.9% in the fourth quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after acquiring an additional 550,112 shares during the period. American Century Companies Inc. boosted its stake in Waters by 34.3% in the third quarter. American Century Companies Inc. now owns 832,895 shares of the medical instruments supplier’s stock valued at $228,388,000 after acquiring an additional 212,754 shares during the period. Finally, Norges Bank acquired a new position in shares of Waters during the fourth quarter worth approximately $206,286,000. 94.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Waters news, Director Richard H. Fearon purchased 1,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Richard H. Fearon acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $332.90 per share, with a total value of $332,900.00. Following the transaction, the director now directly owns 1,653 shares in the company, valued at approximately $550,283.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the completion of the transaction, the director now directly owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAT. Evercore ISI boosted their price objective on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TD Cowen boosted their price objective on Waters from $350.00 to $358.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Robert W. Baird reduced their price objective on Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Barclays reduced their price objective on Waters from $300.00 to $295.00 and set an “underweight” rating for the company in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price objective on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, Waters presently has a consensus rating of “Hold” and an average price target of $307.20.

Get Our Latest Stock Report on WAT

Waters Price Performance

Shares of NYSE WAT traded down $4.75 during trading on Thursday, hitting $289.65. The company had a trading volume of 664,041 shares, compared to its average volume of 444,966. The company has a market cap of $17.18 billion, a P/E ratio of 28.89, a PEG ratio of 4.69 and a beta of 0.97. Waters Co. has a 52 week low of $231.90 and a 52 week high of $367.21. The business’s 50-day moving average is $319.90 and its 200 day moving average is $324.18. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94.

Waters (NYSE:WATGet Free Report) last announced its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The company had revenue of $636.80 million for the quarter, compared to the consensus estimate of $635.57 million. During the same period in the previous year, the business earned $2.49 EPS. The company’s revenue was down 7.0% on a year-over-year basis. Equities research analysts predict that Waters Co. will post 11.85 earnings per share for the current fiscal year.

About Waters

(Free Report)

Waters Corporation 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.

See Also

Want to see what other hedge funds are holding WAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waters Co. (NYSE:WATFree Report).

Institutional Ownership by Quarter for Waters (NYSE:WAT)

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