Waters Co. (NYSE:WAT) Stock Holdings Lowered by AlphaCrest Capital Management LLC

Posted by Defense World Staff on Mar 9th, 2023

Waters logo AlphaCrest Capital Management LLC trimmed its position in shares of Waters Co. (NYSE:WAT – Get Rating) by 37.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,139 shares of the medical instruments supplier’s stock after selling 1,298 shares during the period. AlphaCrest Capital Management LLC’s holdings in Waters were worth $577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Waters by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,689,208 shares of the medical instruments supplier’s stock worth $2,076,263,000 after buying an additional 30,274 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Waters by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,623,726 shares of the medical instruments supplier’s stock worth $707,174,000 after purchasing an additional 171,541 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Waters by 79.6% during the first quarter. Wellington Management Group LLP now owns 1,504,592 shares of the medical instruments supplier’s stock valued at $467,011,000 after purchasing an additional 666,851 shares during the period. Northern Trust Corp raised its stake in shares of Waters by 0.4% during the first quarter. Northern Trust Corp now owns 840,359 shares of the medical instruments supplier’s stock valued at $260,839,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Waters by 1.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 835,336 shares of the medical instruments supplier’s stock worth $276,479,000 after purchasing an additional 10,114 shares during the period. Institutional investors own 88.58% of the company’s stock.

Insider Activity

In other Waters news, Director Mark P. Vergnano acquired 3,185 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was purchased at an average cost of $313.32 per share, for a total transaction of $997,924.20. Following the transaction, the director now owns 3,557 shares of the company’s stock, valued at approximately $1,114,479.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Waters Price Performance

WAT stock opened at $309.82 on Thursday. Waters Co. has a one year low of $265.61 and a one year high of $369.00. The firm has a 50-day moving average of $331.73 and a two-hundred day moving average of $317.18. The firm has a market capitalization of $18.26 billion, a PE ratio of 26.37, a P/E/G ratio of 3.62 and a beta of 0.86. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 3.02.

Waters (NYSE:WAT – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The medical instruments supplier reported $3.84 EPS for the quarter, beating the consensus estimate of $3.74 by $0.10. Waters had a net margin of 23.81% and a return on equity of 175.08%. The business had revenue of $858.51 million during the quarter, compared to the consensus estimate of $832.85 million. During the same quarter in the prior year, the firm earned $3.67 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Waters Co. will post 12.67 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on WAT. Citigroup boosted their price target on shares of Waters from $325.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Robert W. Baird upped their target price on Waters from $334.00 to $345.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft began coverage on Waters in a research report on Tuesday, December 13th. They set a “hold” rating and a $350.00 price target on the stock. Wells Fargo & Company lifted their target price on Waters from $320.00 to $345.00 and gave the stock an “equal weight” rating in a report on Thursday, February 16th. Finally, SVB Leerink boosted their price target on shares of Waters from $320.00 to $352.00 and gave the stock a “market perform” rating in a research report on Friday, January 6th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $354.00.

Waters Profile

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Waters Corp. engages in the provision of workflow solutions involving liquid chromatography, mass spectrometry, and thermal analysis. It operates through the Waters and TA (TA Instruments) segments. The Waters segment consists of liquid chromatography instruments, mass spectrometry, and precision chemistry consumable products and services.