Texas Permanent School Fund Corp Has $2.84 Million Stake in Waters Co. (NYSE:WAT)

Texas Permanent School Fund Corp lowered its stake in shares of Waters Co. (NYSE:WAT) by 19.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,792 shares of the medical instruments supplier’s stock after selling 2,430 shares during the period. Texas Permanent School Fund Corp’s holdings in Waters were worth $2,841,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hohimer Wealth Management LLC boosted its stake in Waters by 2.7% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,354 shares of the medical instruments supplier’s stock valued at $446,000 after purchasing an additional 35 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Waters by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock valued at $3,797,000 after purchasing an additional 37 shares during the last quarter. Armstrong Henry H Associates Inc. boosted its stake in Waters by 0.4% during the 1st quarter. Armstrong Henry H Associates Inc. now owns 10,819 shares of the medical instruments supplier’s stock valued at $3,724,000 after purchasing an additional 40 shares during the last quarter. Greenleaf Trust boosted its stake in Waters by 5.4% during the 1st quarter. Greenleaf Trust now owns 864 shares of the medical instruments supplier’s stock valued at $297,000 after purchasing an additional 44 shares during the last quarter. Finally, Czech National Bank boosted its stake in Waters by 0.5% during the 1st quarter. Czech National Bank now owns 10,403 shares of the medical instruments supplier’s stock valued at $3,581,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Price Performance

Waters stock opened at $325.86 on Monday. Waters Co. has a 12 month low of $231.90 and a 12 month high of $367.21. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The business’s 50 day simple moving average is $325.58 and its 200 day simple moving average is $324.62. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 5.59 and a beta of 0.95.

Waters (NYSE:WAT) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.08. Waters had a net margin of 20.71% and a return on equity of 56.81%. The business had revenue of $709.00 million for the quarter, compared to analysts’ expectations of $700.09 million. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that Waters Co. will post 11.6 EPS for the current year.

Analyst Ratings Changes

WAT has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Waters in a research note on Monday, June 3rd. They issued a “hold” rating and a $320.00 target price on the stock. Barclays boosted their target price on Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Evercore ISI cut their target price on Waters from $320.00 to $300.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group upgraded Waters to a “hold” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on Waters in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $318.50.

Waters Profile

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.