Impax Asset Management Group plc Grows Stake in Waters Co. (NYSE:WAT)

Impax Asset Management Group plc boosted its stake in Waters Co. (NYSE:WAT) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 714,155 shares of the medical instruments supplier’s stock after buying an additional 68,509 shares during the quarter. Waters makes up approximately 1.2% of Impax Asset Management Group plc’s portfolio, making the stock its 26th largest holding. Impax Asset Management Group plc owned approximately 1.20% of Waters worth $264,937,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Waters by 70.7% in the third quarter. Principal Financial Group Inc. now owns 656,019 shares of the medical instruments supplier’s stock valued at $236,095,000 after acquiring an additional 271,804 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Waters by 34.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 393,890 shares of the medical instruments supplier’s stock valued at $141,757,000 after purchasing an additional 100,811 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Waters by 37.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 305,661 shares of the medical instruments supplier’s stock worth $110,005,000 after purchasing an additional 82,865 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Waters by 3,627.0% during the 3rd quarter. Applied Finance Capital Management LLC now owns 68,987 shares of the medical instruments supplier’s stock worth $24,828,000 after purchasing an additional 67,136 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Waters during the fourth quarter worth $22,188,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Price Performance

Shares of WAT opened at $374.24 on Monday. The firm has a 50-day simple moving average of $388.85 and a two-hundred day simple moving average of $366.15. The stock has a market cap of $22.22 billion, a PE ratio of 34.94, a P/E/G ratio of 3.79 and a beta of 1.01. Waters Co. has a 1-year low of $279.24 and a 1-year high of $423.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.65.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on WAT. Scotiabank upgraded 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 research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Waters from $340.00 to $380.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group increased their price target on Waters from $405.00 to $410.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Bank of America cut their target price on Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waters has an average rating of “Hold” and an average price target of $390.40.

Waters Company Profile

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.