Corebridge Financial Inc. Decreases Stock Holdings in Waters Co. (NYSE:WAT)

Corebridge Financial Inc. trimmed its holdings in shares of Waters Co. (NYSE:WAT) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,923 shares of the medical instruments supplier’s stock after selling 378 shares during the quarter. Corebridge Financial Inc.’s holdings in Waters were worth $5,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of WAT. Bank of Jackson Hole Trust purchased a new stake in Waters during the 4th quarter worth approximately $34,000. Fortitude Family Office LLC grew its stake in Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Waters by 129.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 53 shares during the period. EverSource Wealth Advisors LLC raised its position in Waters by 54.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 44 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Waters during the fourth quarter worth $63,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Waters Trading Down 2.4 %

Shares of Waters stock opened at $361.61 on Friday. Waters Co. has a fifty-two week low of $279.24 and a fifty-two week high of $423.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.94. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 3.79 and a beta of 1.00. The stock has a 50 day moving average of $387.41 and a 200 day moving average of $372.60.

Waters (NYSE:WAT) last issued its quarterly earnings data on Wednesday, February 12th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Waters had a return on equity of 46.31% and a net margin of 21.56%. As a group, research analysts predict that Waters Co. will post 12.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WAT shares. Wells Fargo & Company boosted their price target on Waters from $415.00 to $420.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Scotiabank raised shares of Waters from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $430.00 to $450.00 in a report on Thursday, February 13th. Barclays upgraded shares of Waters from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $360.00 to $415.00 in a research report on Monday, February 10th. Bank of America cut their price objective on Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com cut Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $397.40.

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.