First Mercantile Trust Co. raised its position in Waters Co. (NYSE:WAT) by 31.0% during the first quarter, Holdings Channel reports. The firm owned 1,836 shares of the medical instruments supplier’s stock after buying an additional 434 shares during the quarter. First Mercantile Trust Co.’s holdings in Waters were worth $462,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Athena Capital Advisors LLC purchased a new position in Waters in the fourth quarter valued at $28,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Waters in the 1st quarter valued at approximately $43,000. Reilly Financial Advisors LLC increased its stake in Waters by 334.8% during the 4th quarter. Reilly Financial Advisors LLC now owns 200 shares of the medical instruments supplier’s stock worth $38,000 after buying an additional 154 shares during the period. Rockland Trust Co. purchased a new stake in Waters during the 4th quarter worth approximately $38,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Waters in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 97.57% of the company’s stock.
WAT opened at $207.80 on Thursday. The firm has a market capitalization of $14.54 billion, a P/E ratio of 25.07, a PEG ratio of 2.21 and a beta of 1.08. The company has a quick ratio of 2.89, a current ratio of 3.44 and a debt-to-equity ratio of 1.15. Waters Co. has a 1 year low of $167.93 and a 1 year high of $255.21.
In other news, SVP Terrence P. Kelly sold 2,006 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $239.69, for a total value of $480,818.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Berendt sold 3,000 shares of Waters stock in a transaction on Monday, February 25th. The shares were sold at an average price of $239.64, for a total value of $718,920.00. Following the sale, the director now directly owns 21,510 shares of the company’s stock, valued at approximately $5,154,656.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,730 shares of company stock valued at $1,856,849. Company insiders own 1.14% of the company’s stock.
A number of brokerages recently weighed in on WAT. Zacks Investment Research cut shares of Waters from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 12th. Robert W. Baird downgraded shares of Waters from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $191.00 to $211.00 in a report on Thursday, January 24th. BTIG Research raised their target price on shares of Waters to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. Barclays reiterated a “hold” rating and set a $200.00 price objective on shares of Waters in a research note on Friday, January 25th. Finally, ValuEngine lowered shares of Waters from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Waters currently has an average rating of “Hold” and a consensus price target of $212.26.
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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