Nuveen LLC Makes New Investment in Waters Corporation (NYSE:WAT)

Key Points

• Nuveen LLC has made a significant investment in Waters Corporation, purchasing 255,115 shares valued at approximately $94 million, representing about 0.43% ownership in the company.
• Waters Corporation reported a quarterly EPS of $2.95, exceeding analyst expectations, with revenues increasing by 8.8% year-over-year.
• Approximately 94.01% of Waters' stock is owned by institutional investors, indicating strong confidence in the company among large financial players.

Nuveen LLC bought a new position in Waters Corporation (NYSE:WAT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 255,115 shares of the medical instruments supplier's stock, valued at approximately $94,028,000. Nuveen LLC owned approximately 0.43% of Waters as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Lederer & Associates Investment Counsel CA increased its holdings in shares of Waters by 1.0% during the first quarter. Lederer & Associates Investment Counsel CA now owns 3,155 shares of the medical instruments supplier's stock valued at $1,163,000 after acquiring an additional 30 shares in the last quarter. FourThought Financial Partners LLC increased its holdings in shares of Waters by 5.1% during the first quarter. FourThought Financial Partners LLC now owns 658 shares of the medical instruments supplier's stock valued at $243,000 after acquiring an additional 32 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Waters by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 744 shares of the medical instruments supplier's stock valued at $276,000 after acquiring an additional 34 shares in the last quarter. Claret Asset Management Corp increased its holdings in shares of Waters by 3.6% during the fourth quarter. Claret Asset Management Corp now owns 1,103 shares of the medical instruments supplier's stock valued at $409,000 after acquiring an additional 38 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Waters by 2.2% during the fourth quarter. Lido Advisors LLC now owns 1,734 shares of the medical instruments supplier's stock valued at $643,000 after acquiring an additional 38 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Waters Trading Up 2.1%

Waters stock opened at $285.23 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.55. Waters Corporation has a 12 month low of $275.05 and a 12 month high of $423.56. The stock's 50 day simple moving average is $322.84 and its two-hundred day simple moving average is $348.61. The firm has a market cap of $16.98 billion, a PE ratio of 25.72, a P/E/G ratio of 2.61 and a beta of 1.04.

Waters (NYSE:WAT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The medical instruments supplier reported $2.95 EPS for the quarter, topping the consensus estimate of $2.93 by $0.02. Waters had a return on equity of 38.60% and a net margin of 21.71%. The business had revenue of $771.33 million for the quarter, compared to analyst estimates of $745.96 million. During the same quarter in the prior year, the firm posted $2.63 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that Waters Corporation will post 12.86 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on WAT. Sanford C. Bernstein set a $400.00 price objective on shares of Waters and gave the company an "outperform" rating in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Waters from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird dropped their target price on Waters from $374.00 to $352.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft set a $315.00 target price on Waters and gave the company a "hold" rating in a research report on Tuesday, August 5th. Finally, Bank of America upped their target price on Waters from $370.00 to $375.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $378.73.

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.

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