Park Place Capital Corp Reduces Stake in Waters Co. (NYSE:WAT)

Park Place Capital Corp trimmed its stake in Waters Co. (NYSE:WAT) by 53.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91 shares of the medical instruments supplier’s stock after selling 103 shares during the quarter. Park Place Capital Corp’s holdings in Waters were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO purchased a new stake in shares of Waters during the 1st quarter valued at approximately $25,000. Riverview Trust Co purchased a new stake in shares of Waters during the 1st quarter valued at approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in shares of Waters during the 4th quarter valued at approximately $35,000. VisionPoint Advisory Group LLC lifted its stake in shares of Waters by 300.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 144 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Waters during the 4th quarter valued at approximately $39,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on WAT. TD Cowen upped their price target on shares of Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI decreased their target price on shares of Waters from $320.00 to $300.00 and set an “in-line” rating on the stock in a report on Tuesday. Barclays decreased their target price on shares of Waters from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus upped their target price on shares of Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird decreased their target price on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, Waters currently has an average rating of “Hold” and a consensus price target of $301.20.

Waters Price Performance

Shares of NYSE:WAT opened at $284.49 on Wednesday. The company’s fifty day moving average price is $315.69 and its 200-day moving average price is $323.60. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 4.62 and a beta of 0.95. Waters Co. has a one year low of $231.90 and a one year high of $367.21. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.94 and a quick ratio of 1.30.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. During the same quarter in the prior year, the firm earned $2.49 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Waters Co. will post 11.85 earnings per share for the current fiscal year.

Insider Activity at Waters

In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at approximately $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Fearon bought 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the acquisition, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is owned by insiders.

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.