Amalgamated Bank Reduces Position in Waters Co. (NYSE:WAT)

Amalgamated Bank lowered its stake in Waters Co. (NYSE:WAT) by 2.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 12,481 shares of the medical instruments supplier’s stock after selling 294 shares during the period. Amalgamated Bank’s holdings in Waters were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new position in shares of Waters in the 1st quarter valued at $25,000. Riverview Trust Co purchased a new stake in Waters during the 1st quarter valued at about $28,000. Blue Trust Inc. increased its holdings in shares of Waters by 190.2% in the second quarter. Blue Trust Inc. now owns 119 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 78 shares during the period. TFC Financial Management Inc. raised its stake in shares of Waters by 19,900.0% in the second quarter. TFC Financial Management Inc. now owns 200 shares of the medical instruments supplier’s stock worth $58,000 after purchasing an additional 199 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Waters during the second quarter worth about $59,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Trading Down 0.6 %

Shares of NYSE:WAT opened at $336.56 on Monday. The business’s 50 day moving average price is $329.70 and its 200-day moving average price is $324.22. Waters Co. has a 1 year low of $231.90 and a 1 year high of $367.21. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 33.03, a price-to-earnings-growth ratio of 5.70 and a beta of 0.95. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42.

Waters (NYSE:WAT) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.08. The business had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. On average, equities research analysts forecast that Waters Co. will post 11.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WAT shares. Barclays increased their price target on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. TD Cowen raised their target price on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group began coverage on shares of Waters in a report on Monday, June 3rd. They issued a “hold” rating and a $320.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upgraded Waters to a “hold” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.