Boston Partners Has $16.09 Million Stake in Waters Corporation (WAT)
Boston Partners cut its stake in Waters Corporation (NYSE:WAT) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,512 shares of the medical instruments supplier’s stock after selling 31 shares during the period. Boston Partners’ holdings in Waters Corporation were worth $16,088,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of WAT. Vanguard Group Inc. increased its position in shares of Waters Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,497,760 shares of the medical instruments supplier’s stock valued at $1,171,975,000 after buying an additional 216,162 shares in the last quarter. BlackRock Inc. increased its position in shares of Waters Corporation by 2,810.7% in the first quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock valued at $836,212,000 after buying an additional 5,165,917 shares in the last quarter. State Street Corp increased its position in shares of Waters Corporation by 1.7% in the first quarter. State Street Corp now owns 3,446,000 shares of the medical instruments supplier’s stock valued at $538,641,000 after buying an additional 58,746 shares in the last quarter. Fundsmith LLP increased its position in shares of Waters Corporation by 11.3% in the first quarter. Fundsmith LLP now owns 3,432,535 shares of the medical instruments supplier’s stock valued at $536,540,000 after buying an additional 349,178 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Waters Corporation by 18.2% in the first quarter. Janus Capital Management LLC now owns 2,309,646 shares of the medical instruments supplier’s stock valued at $361,021,000 after buying an additional 356,395 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Waters Corporation (NYSE WAT) opened at 179.52 on Wednesday. The company’s 50-day moving average is $180.09 and its 200-day moving average is $168.45. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The company has a market cap of $14.33 billion, a P/E ratio of 27.06 and a beta of 0.84.
Waters Corporation (NYSE:WAT) last released its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The company had revenue of $558.30 million during the quarter, compared to analysts’ expectations of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. Waters Corporation’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. On average, equities research analysts expect that Waters Corporation will post $7.38 EPS for the current fiscal year.
Waters Corporation announced that its board has approved a share repurchase program on Thursday, May 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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WAT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a research note on Monday, April 24th. Bank of America Corporation reiterated a “neutral” rating and issued a $192.00 target price (up previously from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $205.00 target price (up previously from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 target price on shares of Waters Corporation in a research note on Friday, July 14th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $183.00 target price (up previously from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Waters Corporation presently has a consensus rating of “Hold” and a consensus target price of $186.00.
In related news, Director Christopher A. Kuebler sold 3,500 shares of Waters Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $179.67, for a total value of $628,845.00. Following the completion of the sale, the director now directly owns 17,849 shares in the company, valued at approximately $3,206,929.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rohit Khanna sold 23,000 shares of Waters Corporation stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the completion of the sale, the senior vice president now owns 27,077 shares of the company’s stock, valued at $5,060,691.30. The disclosure for this sale can be found here. Insiders sold a total of 98,580 shares of company stock valued at $17,730,275 over the last quarter. 5.07% of the stock is owned by company insiders.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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