Beck Mack & Oliver LLC Decreases Stock Holdings in Waters Co. (NYSE:WAT)

Beck Mack & Oliver LLC lessened its holdings in Waters Co. (NYSE:WAT) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,307 shares of the medical instruments supplier’s stock after selling 8,609 shares during the period. Waters comprises 2.9% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 11th biggest holding. Beck Mack & Oliver LLC owned 0.58% of Waters worth $83,110,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WAT. Massachusetts Financial Services Co. MA grew its position in shares of Waters by 18.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,572,199 shares of the medical instruments supplier’s stock valued at $1,243,883,000 after acquiring an additional 854,002 shares during the period. Invesco Ltd. lifted its stake in shares of Waters by 20.3% during the 2nd quarter. Invesco Ltd. now owns 775,740 shares of the medical instruments supplier’s stock valued at $166,971,000 after buying an additional 130,671 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Waters by 252.8% during the 2nd quarter. Mackenzie Financial Corp now owns 638,075 shares of the medical instruments supplier’s stock valued at $137,339,000 after buying an additional 457,218 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in Waters by 7.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 532,219 shares of the medical instruments supplier’s stock worth $114,531,000 after purchasing an additional 35,506 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Waters by 2.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 472,001 shares of the medical instruments supplier’s stock worth $101,593,000 after purchasing an additional 10,728 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

In other Waters news, Director Edward Conard sold 1,112 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $221.97, for a total value of $246,830.64. Following the sale, the director now owns 68,510 shares of the company’s stock, valued at approximately $15,207,164.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mark T. Beaudouin sold 762 shares of Waters stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $215.00, for a total transaction of $163,830.00. Following the sale, the senior vice president now directly owns 4,090 shares in the company, valued at approximately $879,350. The disclosure for this sale can be found here. In the last three months, insiders sold 35,775 shares of company stock worth $7,639,152. Insiders own 1.14% of the company’s stock.

Several analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Waters in a research note on Tuesday, October 29th. TheStreet cut shares of Waters from a “b” rating to a “c+” rating in a research note on Tuesday, October 29th. Stifel Nicolaus assumed coverage on shares of Waters in a research note on Thursday, November 14th. They issued a “hold” rating and a $210.00 target price on the stock. Finally, Barclays cut shares of Waters from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $210.00 to $195.00 in a research note on Wednesday, October 9th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $208.76.

Shares of WAT stock traded up $3.59 on Wednesday, hitting $224.95. 599,065 shares of the company’s stock traded hands, compared to its average volume of 579,988. The company has a debt-to-equity ratio of 11.40, a quick ratio of 1.63 and a current ratio of 2.25. Waters Co. has a one year low of $173.41 and a one year high of $255.21. The company’s fifty day simple moving average is $216.80 and its 200 day simple moving average is $214.37. The stock has a market capitalization of $14.31 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 2.64 and a beta of 1.04.

Waters (NYSE:WAT) last released its earnings results on Tuesday, October 29th. The medical instruments supplier reported $2.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.13. The company had revenue of $577.28 million for the quarter, compared to analyst estimates of $588.35 million. Waters had a net margin of 23.98% and a return on equity of 77.73%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. As a group, sell-side analysts anticipate that Waters Co. will post 8.83 earnings per share for the current fiscal year.

Waters Company Profile

Waters Corporation, a specialty measurement company, 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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Institutional Ownership by Quarter for Waters (NYSE:WAT)

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