State Treasurer State of Michigan trimmed its position in Waters Co. (NYSE:WAT) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,596 shares of the medical instruments supplier’s stock after selling 1,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Waters were worth $5,184,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Athena Capital Advisors LLC purchased a new position in Waters during the fourth quarter valued at approximately $28,000. Rockland Trust Co. purchased a new position in Waters during the fourth quarter valued at approximately $38,000. Reilly Financial Advisors LLC raised its position in Waters by 334.8% during the fourth quarter. Reilly Financial Advisors LLC now owns 200 shares of the medical instruments supplier’s stock valued at $38,000 after acquiring an additional 154 shares in the last quarter. Lindbrook Capital LLC purchased a new position in Waters during the fourth quarter valued at approximately $41,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in Waters during the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 97.57% of the company’s stock.
Shares of Waters stock traded up $0.13 on Friday, reaching $210.25. The company’s stock had a trading volume of 5,888 shares, compared to its average volume of 763,619. The stock has a market capitalization of $14.44 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.08. Waters Co. has a 52-week low of $167.93 and a 52-week high of $255.21. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.44 and a quick ratio of 2.89.
WAT has been the subject of several recent research reports. TheStreet upgraded Waters from a “c+” rating to a “b” rating in a research report on Thursday, January 17th. Robert W. Baird cut Waters from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $191.00 to $211.00 in a research report on Thursday, January 24th. BTIG Research lifted their price target on Waters to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Barclays reiterated a “hold” rating and set a $200.00 price target on shares of Waters in a research report on Friday, January 25th. Finally, Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $256.00 price target for the company in a research report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $212.26.
In other news, SVP Terrence P. Kelly sold 2,006 shares of Waters stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $239.69, for a total value of $480,818.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Berendt sold 3,000 shares of Waters stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $239.64, for a total value of $718,920.00. Following the completion of the sale, the director now directly owns 21,510 shares in the company, valued at $5,154,656.40. The disclosure for this sale can be found here. Insiders sold 7,730 shares of company stock valued at $1,856,849 over the last 90 days. Company insiders own 1.14% of the company’s stock.
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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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