Waters Co. (WAT) Shares Sold by Hartford Investment Management Co.
Hartford Investment Management Co. trimmed its holdings in Waters Co. (NYSE:WAT) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,452 shares of the medical instruments supplier’s stock after selling 210 shares during the quarter. Hartford Investment Management Co.’s holdings in Waters were worth $1,594,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Waters by 156.1% in the second quarter. Bank of New York Mellon Corp now owns 4,358,976 shares of the medical instruments supplier’s stock valued at $843,852,000 after purchasing an additional 2,657,055 shares during the period. Morgan Stanley boosted its stake in shares of Waters by 188.1% in the third quarter. Morgan Stanley now owns 527,562 shares of the medical instruments supplier’s stock valued at $102,707,000 after purchasing an additional 344,432 shares during the period. Select Equity Group L.P. boosted its stake in shares of Waters by 81.8% in the third quarter. Select Equity Group L.P. now owns 406,245 shares of the medical instruments supplier’s stock valued at $79,088,000 after purchasing an additional 182,841 shares during the period. Nordea Investment Management AB boosted its stake in shares of Waters by 3,557.4% in the third quarter. Nordea Investment Management AB now owns 154,597 shares of the medical instruments supplier’s stock valued at $30,098,000 after purchasing an additional 150,370 shares during the period. Finally, Man Group plc boosted its stake in shares of Waters by 61.4% in the third quarter. Man Group plc now owns 313,891 shares of the medical instruments supplier’s stock valued at $61,109,000 after purchasing an additional 119,451 shares during the period. Institutional investors and hedge funds own 96.14% of the company’s stock.
In other news, SVP Elizabeth B. Rae sold 10,800 shares of the stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $232.35, for a total transaction of $2,509,380.00. Following the completion of the transaction, the senior vice president now directly owns 8,794 shares in the company, valued at approximately $2,043,285.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher A. Kuebler sold 8,000 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $199.67, for a total value of $1,597,360.00. Following the transaction, the director now owns 18,911 shares of the company’s stock, valued at $3,775,959.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,249 shares of company stock valued at $20,981,857. Company insiders own 0.98% of the company’s stock.
Waters (NYSE:WAT) last released its quarterly earnings results on Wednesday, January 23rd. The medical instruments supplier reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.23. The firm had revenue of $715.00 million during the quarter, compared to analysts’ expectations of $702.74 million. Waters had a return on equity of 34.18% and a net margin of 24.54%. Waters’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 EPS. On average, analysts expect that Waters Co. will post 9.35 earnings per share for the current fiscal year.
Several research analysts have recently commented on WAT shares. JPMorgan Chase & Co. lowered their price objective on shares of Waters from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Barclays lowered their price objective on shares of Waters from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 24th. UBS Group reduced their target price on shares of Waters from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. ValuEngine raised shares of Waters from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Finally, Goldman Sachs Group cut shares of Waters from a “neutral” rating to a “sell” rating and reduced their target price for the company from $185.00 to $180.00 in a report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $208.99.
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, 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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