Clearbridge Investments LLC Decreases Stock Holdings in Waters Co. (NYSE:WAT)

Clearbridge Investments LLC reduced its stake in shares of Waters Co. (NYSE:WAT) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,459 shares of the medical instruments supplier’s stock after selling 190 shares during the quarter. Clearbridge Investments LLC’s holdings in Waters were worth $1,626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Waters by 4.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,792 shares of the medical instruments supplier’s stock valued at $338,000 after buying an additional 72 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Waters by 23.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 21,811 shares of the medical instruments supplier’s stock valued at $4,114,000 after purchasing an additional 4,200 shares during the last quarter. Eaton Vance Management grew its position in shares of Waters by 0.8% in the fourth quarter. Eaton Vance Management now owns 16,348 shares of the medical instruments supplier’s stock valued at $3,084,000 after purchasing an additional 136 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in shares of Waters in the fourth quarter valued at approximately $41,000. Finally, Acadian Asset Management LLC grew its position in shares of Waters by 27.1% in the fourth quarter. Acadian Asset Management LLC now owns 23,809 shares of the medical instruments supplier’s stock valued at $4,492,000 after purchasing an additional 5,074 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors.

Shares of Waters stock traded down $1.81 during midday trading on Tuesday, reaching $214.81. The company had a trading volume of 469,121 shares, compared to its average volume of 622,445. Waters Co. has a fifty-two week low of $167.93 and a fifty-two week high of $255.21. The company has a current ratio of 3.44, a quick ratio of 2.89 and a debt-to-equity ratio of 1.15. The stock’s fifty day moving average is $210.76. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.29 and a beta of 1.07.

Waters (NYSE:WAT) last issued its quarterly earnings data on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.13). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $545.82 million. Waters had a return on equity of 39.64% and a net margin of 24.59%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. Research analysts forecast that Waters Co. will post 9.12 earnings per share for the current fiscal year.

A number of research firms have weighed in on WAT. Robert W. Baird cut their price target on shares of Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Cleveland Research lowered shares of Waters from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 12th. Finally, Bank of America raised shares of First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective for the company in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $208.71.

Waters Company Profile

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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