Cullen Frost Bankers Inc. Boosts Stock Holdings in Waters Corporation $WAT

Cullen Frost Bankers Inc. lifted its stake in shares of Waters Corporation (NYSE:WAT) by 1,750.0% during the second quarter, Holdings Channel reports. The fund owned 222 shares of the medical instruments supplier’s stock after acquiring an additional 210 shares during the period. Cullen Frost Bankers Inc.’s holdings in Waters were worth $77,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Canvas Wealth Advisors LLC purchased a new stake in shares of Waters during the second quarter worth $441,000. Chevy Chase Trust Holdings LLC increased its position in shares of Waters by 0.9% during the second quarter. Chevy Chase Trust Holdings LLC now owns 31,822 shares of the medical instruments supplier’s stock worth $11,107,000 after acquiring an additional 292 shares during the period. Boston Trust Walden Corp increased its position in shares of Waters by 2.3% during the second quarter. Boston Trust Walden Corp now owns 294,325 shares of the medical instruments supplier’s stock worth $102,731,000 after acquiring an additional 6,525 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Waters by 21.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,050 shares of the medical instruments supplier’s stock worth $1,065,000 after purchasing an additional 548 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Waters by 4.2% during the second quarter. Sequoia Financial Advisors LLC now owns 17,407 shares of the medical instruments supplier’s stock worth $6,076,000 after purchasing an additional 705 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

NYSE WAT opened at $358.79 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.75 and a quick ratio of 1.22. Waters Corporation has a 1 year low of $275.05 and a 1 year high of $423.56. The company has a market capitalization of $21.36 billion, a PE ratio of 32.35, a P/E/G ratio of 3.34 and a beta of 1.04. The company has a fifty day moving average of $311.56 and a two-hundred day moving average of $323.92.

Waters (NYSE:WAT) last released its quarterly earnings data on Thursday, May 19th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter. Waters had a net margin of 21.71% and a return on equity of 38.60%. The company had revenue of $608.55 million during the quarter. As a group, analysts expect that Waters Corporation will post 12.86 earnings per share for the current year.

Analysts Set New Price Targets

WAT has been the subject of a number of analyst reports. Scotiabank reiterated a “sector outperform” rating and set a $465.00 target price on shares of Waters in a research note on Friday, July 11th. Wells Fargo & Company lowered their target price on shares of Waters from $330.00 to $315.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Waters from $300.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on shares of Waters and gave the stock a “hold” rating in a research note on Tuesday, August 5th. Finally, Redburn Partners set a $390.00 target price on shares of Waters in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $376.80.

About Waters

Waters Corporation 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.