Retirement Systems of Alabama Reduces Holdings in Waters Co. (NYSE:WAT)

Retirement Systems of Alabama cut its stake in shares of Waters Co. (NYSE:WAT) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,031 shares of the medical instruments supplier’s stock after selling 332 shares during the quarter. Retirement Systems of Alabama’s holdings in Waters were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WAT. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Waters by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock valued at $15,325,000 after purchasing an additional 4,936 shares during the last quarter. Raymond James & Associates raised its position in Waters by 295.9% during the 4th quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock valued at $42,102,000 after purchasing an additional 95,577 shares during the last quarter. Motley Fool Wealth Management LLC raised its position in Waters by 39.6% during the 4th quarter. Motley Fool Wealth Management LLC now owns 41,657 shares of the medical instruments supplier’s stock valued at $13,728,000 after purchasing an additional 11,823 shares during the last quarter. Fenimore Asset Management Inc. raised its position in Waters by 22.4% during the 4th quarter. Fenimore Asset Management Inc. now owns 227,250 shares of the medical instruments supplier’s stock valued at $74,818,000 after purchasing an additional 41,638 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Waters by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock valued at $322,017,000 after purchasing an additional 550,112 shares during the last quarter. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Performance

Waters stock opened at $319.86 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $18.97 billion, a P/E ratio of 29.48, a PEG ratio of 6.39 and a beta of 0.98. The stock’s 50 day moving average is $333.36 and its 200 day moving average is $310.25. Waters Co. has a twelve month low of $231.90 and a twelve month high of $363.80.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, February 6th. The medical instruments supplier reported $3.62 EPS for the quarter, beating the consensus estimate of $3.56 by $0.06. Waters had a return on equity of 81.30% and a net margin of 21.72%. The business had revenue of $819.50 million for the quarter, compared to the consensus estimate of $815.50 million. During the same period last year, the business posted $3.84 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. On average, equities research analysts predict that Waters Co. will post 11.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WAT has been the subject of a number of recent analyst reports. Barclays upped their price target on Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. Evercore ISI increased their target price on Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus increased their target price on Waters from $290.00 to $330.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, Waters has a consensus rating of “Hold” and a consensus price target of $298.67.

Insider Transactions at Waters

In related news, Director Linda Baddour sold 500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the transaction, the director now directly owns 2,250 shares of the company’s stock, valued at approximately $799,965. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.82% of the company’s stock.

Waters Company Profile

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.