Gitterman Wealth Management LLC Purchases Shares of 1,560 Waters Co. (NYSE:WAT)

Gitterman Wealth Management LLC purchased a new stake in Waters Co. (NYSE:WAT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,560 shares of the medical instruments supplier’s stock, valued at approximately $514,000. Waters comprises approximately 0.2% of Gitterman Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds also recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Waters by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,889 shares of the medical instruments supplier’s stock worth $15,325,000 after acquiring an additional 4,936 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Waters by 295.9% during the 4th quarter. Raymond James & Associates now owns 127,879 shares of the medical instruments supplier’s stock worth $42,102,000 after acquiring an additional 95,577 shares in the last quarter. Fenimore Asset Management Inc. boosted its stake in shares of Waters by 22.4% during the 4th quarter. Fenimore Asset Management Inc. now owns 227,250 shares of the medical instruments supplier’s stock worth $74,818,000 after acquiring an additional 41,638 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Waters by 129.9% during the 4th quarter. Nordea Investment Management AB now owns 973,537 shares of the medical instruments supplier’s stock worth $322,017,000 after acquiring an additional 550,112 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Waters by 32.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 13,066 shares of the medical instruments supplier’s stock worth $4,302,000 after acquiring an additional 3,194 shares in the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.

Waters Price Performance

WAT stock traded up $2.95 during mid-day trading on Friday, reaching $311.30. The company’s stock had a trading volume of 270,575 shares, compared to its average volume of 367,375. The stock has a market cap of $18.46 billion, a PE ratio of 28.69, a P/E/G ratio of 6.19 and a beta of 0.92. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00. Waters Co. has a fifty-two week low of $231.90 and a fifty-two week high of $363.80. The company’s 50 day moving average is $334.78 and its two-hundred day moving average is $307.28.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.56 by $0.06. The business had revenue of $819.50 million during the quarter, compared to the consensus estimate of $815.50 million. Waters had a net margin of 21.72% and a return on equity of 81.30%. The business’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.84 EPS. Equities research analysts expect that Waters Co. will post 11.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a research report on Monday, February 12th. Stifel Nicolaus upped their price target on shares of Waters from $290.00 to $330.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Finally, Evercore ISI upped their price target on shares of Waters from $320.00 to $340.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $298.67.

Insider Transactions at Waters

In other news, Director Linda Baddour sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total transaction of $177,770.00. Following the completion of the sale, the director now owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

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.