Fifth Third Bancorp Increases Holdings in Waters Corporation $WAT

Key Points

• Fifth Third Bancorp increased its stake in Waters Corporation by 891.8% in the first quarter, buying an additional 19,227 shares and bringing its total to 21,383 shares worth about $6.37 million.
• Waters has seen continued interest from other institutional investors, and 94.01% of the stock is now owned by institutions.
• Wall Street remains cautiously bullish: analysts currently rate Waters as a Moderate Buy with an average target price of $401.60, while the company also recently beat earnings and revenue expectations for its latest quarter.

Fifth Third Bancorp grew its holdings in Waters Corporation (NYSE:WAT - Free Report) by 891.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,383 shares of the medical instruments supplier's stock after buying an additional 19,227 shares during the quarter. Fifth Third Bancorp's holdings in Waters were worth $6,368,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Zions Bancorporation National Association UT increased its stake in shares of Waters by 121.2% during the fourth quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 40 shares during the period. Louisbourg Investments Inc. purchased a new stake in Waters in the first quarter worth $30,000. First United Bank & Trust purchased a new stake in Waters in the first quarter worth $31,000. North Star Investment Management Corp. boosted its holdings in Waters by 10,200.0% in the first quarter. North Star Investment Management Corp. now owns 103 shares of the medical instruments supplier's stock valued at $31,000 after acquiring an additional 102 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in Waters in the fourth quarter valued at $32,000. 94.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WAT has been the subject of several research reports. TD Cowen restated a "hold" rating on shares of Waters in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $350.00 target price on shares of Waters in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on shares of Waters from $350.00 to $390.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. The Goldman Sachs Group increased their price target on shares of Waters from $380.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Waters from $330.00 to $345.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $401.60.

Waters Stock Up 0.8%

Shares of NYSE:WAT opened at $378.07 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $361.82 and a two-hundred day simple moving average of $346.38. Waters Corporation has a 12-month low of $275.05 and a 12-month high of $414.15. The stock has a market capitalization of $37.12 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 2.27 and a beta of 1.20.

Waters (NYSE:WAT - Get Free Report) last released its earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.39. Waters had a return on equity of 15.60% and a net margin of 11.91%.The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The company's quarterly revenue was up 91.4% on a year-over-year basis. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. On average, research analysts anticipate that Waters Corporation will post 14.51 earnings per share for the current fiscal year.

Waters Company Profile

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.

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