Principal Financial Group Inc. Acquires 271,804 Shares of Waters Co. (NYSE:WAT)

Principal Financial Group Inc. grew its holdings in Waters Co. (NYSE:WAT) by 70.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,019 shares of the medical instruments supplier’s stock after acquiring an additional 271,804 shares during the period. Principal Financial Group Inc.’s holdings in Waters were worth $236,095,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WAT. Linscomb Wealth Inc. increased its position in Waters by 0.4% during the second quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock worth $2,275,000 after buying an additional 34 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Waters by 3.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock valued at $314,000 after acquiring an additional 34 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in Waters by 3.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock worth $339,000 after purchasing an additional 34 shares during the last quarter. Retirement Systems of Alabama boosted its position in Waters by 0.3% during the second quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock worth $3,797,000 after purchasing an additional 37 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Waters by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 2,782 shares of the medical instruments supplier’s stock valued at $1,001,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.

Waters Trading Down 0.1 %

Shares of WAT opened at $386.17 on Friday. The company has a current ratio of 2.02, a quick ratio of 0.55 and a debt-to-equity ratio of 1.14. The stock has a market cap of $22.93 billion, a PE ratio of 36.85, a PEG ratio of 7.07 and a beta of 0.97. Waters Co. has a 1 year low of $246.35 and a 1 year high of $393.38. The stock has a 50 day simple moving average of $345.80 and a 200-day simple moving average of $327.56.

Waters (NYSE:WAT) last issued its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.25. The company had revenue of $740.30 million during the quarter, compared to analysts’ expectations of $712.99 million. Waters had a return on equity of 49.93% and a net margin of 21.43%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $2.84 earnings per share. On average, sell-side analysts predict that Waters Co. will post 11.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on WAT. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waters from $310.00 to $325.00 and gave the stock a “hold” rating in a report on Monday. Stifel Nicolaus lifted their price objective on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday. The Goldman Sachs Group upgraded Waters to a “hold” rating in a research note on Wednesday, July 31st. Leerink Partnrs raised Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI raised their price objective on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waters presently has an average rating of “Hold” and an average target price of $365.85.

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.