Retirement Systems of Alabama Trims Stock Holdings in Waters Corporation (NYSE:WAT)

Retirement Systems of Alabama decreased its holdings in Waters Corporation (NYSE:WAT) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,759 shares of the medical instruments supplier’s stock after selling 97 shares during the period. Retirement Systems of Alabama’s holdings in Waters were worth $4,703,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Waters in the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC boosted its position in shares of Waters by 129.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 53 shares during the period. Whipplewood Advisors LLC boosted its position in shares of Waters by 5,200.0% in the first quarter. Whipplewood Advisors LLC now owns 106 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 104 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Waters in the fourth quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Waters by 54.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Up 1.3%

WAT stock opened at $347.17 on Wednesday. The company has a market capitalization of $20.66 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 3.46 and a beta of 1.11. Waters Corporation has a one year low of $279.24 and a one year high of $423.56. The company’s 50 day moving average price is $345.22 and its two-hundred day moving average price is $365.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.81.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, May 6th. The medical instruments supplier reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The firm had revenue of $661.71 million for the quarter, compared to the consensus estimate of $655.50 million. Waters had a net margin of 22.02% and a return on equity of 41.70%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. As a group, analysts predict that Waters Corporation will post 12.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WAT has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Waters from $355.00 to $374.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Baird R W upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 26th. Barclays cut their price objective on shares of Waters from $400.00 to $350.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Sanford C. Bernstein set a $400.00 target price on shares of Waters and gave the company an “outperform” rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Waters from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.19.

Waters 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.