PNC Financial Services Group Inc. Has $12.09 Million Holdings in Waters Corporation $WAT

Key Points

• PNC Financial Services increased its stake in Waters Corporation by 110.6% in the first quarter, ending with 40,612 shares worth about $12.09 million.
• Waters reported better-than-expected Q1 earnings of $2.70 per share on revenue of $1.27 billion, and it also issued upbeat guidance for Q2 2026 and FY 2026.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and a price target around $401.60, while recent target hikes from firms like Goldman Sachs and HSBC point to continued growth expectations.

PNC Financial Services Group Inc. boosted its stake in Waters Corporation (NYSE:WAT - Free Report) by 110.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,612 shares of the medical instruments supplier's stock after buying an additional 21,329 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Waters were worth $12,094,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Zions Bancorporation National Association UT lifted its holdings 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 acquiring an additional 40 shares during the period. SHP Wealth Management bought a new stake in shares of Waters in the 4th quarter worth about $32,000. DV Equities LLC bought a new stake in shares of Waters in the 4th quarter worth about $32,000. Anchor Investment Management LLC acquired a new stake in shares of Waters during the 1st quarter worth about $27,000. Finally, Vision Retirement LLC acquired a new stake in shares of Waters during the 1st quarter worth about $29,000. 94.01% of the stock is currently owned by institutional investors.

Waters Trading Down 2.1%

WAT opened at $374.49 on Friday. Waters Corporation has a 1-year low of $275.05 and a 1-year high of $414.15. The stock has a market capitalization of $36.77 billion, a PE ratio of 47.59, a PEG ratio of 2.27 and a beta of 1.20. 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 firm has a 50-day moving average price of $365.23 and a two-hundred day moving average price of $346.13.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 lifted their target price on shares of Waters from $380.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Waters in a report on Friday, July 17th. Wolfe Research started coverage on Waters in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $425.00 price target on the stock. Finally, HSBC raised their price target on Waters from $415.00 to $435.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Three equities research 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $401.60.

About Waters

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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