Edgemoor Investment Advisors Inc. Acquires Shares of 949 Waters Co. (WAT)

Edgemoor Investment Advisors Inc. acquired a new stake in Waters Co. (NYSE:WAT) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 949 shares of the medical instruments supplier’s stock, valued at approximately $239,000.

A number of other large investors have also added to or reduced their stakes in the stock. Stone Ridge Asset Management LLC raised its position in shares of Waters by 7.0% during the fourth quarter. Stone Ridge Asset Management LLC now owns 2,535 shares of the medical instruments supplier’s stock worth $478,000 after acquiring an additional 166 shares during the last quarter. Kinneret Advisory LLC bought a new stake in Waters in the fourth quarter worth approximately $1,055,000. Ontario Teachers Pension Plan Board increased its holdings in Waters by 6.7% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 173,146 shares of the medical instruments supplier’s stock worth $32,664,000 after purchasing an additional 10,815 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Waters by 10.5% in the first quarter. IFM Investors Pty Ltd now owns 4,985 shares of the medical instruments supplier’s stock worth $1,255,000 after purchasing an additional 472 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in Waters in the fourth quarter worth approximately $4,084,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:WAT opened at $208.25 on Tuesday. The company has a market cap of $14.46 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.89 and a current ratio of 3.44. Waters Co. has a 12-month low of $167.93 and a 12-month high of $255.21.

Waters (NYSE:WAT) last announced its earnings results on Tuesday, April 23rd. The medical instruments supplier reported $1.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.13). The company had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $545.82 million. Waters had a net margin of 24.59% and a return on equity of 39.64%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. As a group, research analysts predict that Waters Co. will post 9.11 earnings per share for the current fiscal year.

In related news, SVP Robert G. Carson sold 2,724 shares of Waters stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $241.23, for a total transaction of $657,110.52. Following the transaction, the senior vice president now owns 3,898 shares of the company’s stock, valued at $940,314.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Berendt sold 3,000 shares of Waters stock in a transaction that occurred 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 transaction, the director now directly owns 21,510 shares in the company, valued at approximately $5,154,656.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,730 shares of company stock worth $1,856,849. 1.14% of the stock is owned by insiders.

A number of brokerages have weighed in on WAT. Zacks Investment Research downgraded Waters from a “strong-buy” rating to a “hold” rating in a report on Friday, April 12th. Robert W. Baird cut Waters from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $191.00 to $211.00 in a research note on Thursday, January 24th. BTIG Research raised their price objective on Waters to $260.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. Barclays reissued a “hold” rating and issued a $200.00 price objective on shares of Waters in a research note on Friday, January 25th. Finally, ValuEngine cut Waters from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Waters has an average rating of “Hold” and a consensus price target of $212.26.

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Waters Company Profile

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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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