Corebridge Financial Inc. Lowers Holdings in Waters Co. (NYSE:WAT)

Corebridge Financial Inc. reduced its stake in Waters Co. (NYSE:WAT) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,923 shares of the medical instruments supplier’s stock after selling 378 shares during the period. Corebridge Financial Inc.’s holdings in Waters were worth $5,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of Jackson Hole Trust acquired a new stake in Waters in the 4th quarter valued at about $34,000. Fortitude Family Office LLC raised its holdings in Waters by 235.7% in the fourth quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 66 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Waters by 129.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after acquiring an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Waters by 54.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 44 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Waters in the 4th quarter valued at approximately $63,000. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Stock Performance

Shares of WAT stock opened at $361.61 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. Waters Co. has a 12-month low of $279.24 and a 12-month high of $423.56. The company has a market cap of $21.48 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 3.79 and a beta of 1.00. The stock has a 50 day simple moving average of $387.41 and a 200-day simple moving average of $372.60.

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

Analyst Ratings Changes

A number of brokerages recently commented on WAT. StockNews.com downgraded shares of Waters from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein upgraded shares of Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price target on the stock in a research note on Friday, January 10th. Baird R W upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America dropped their target price on shares of Waters from $430.00 to $410.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays upgraded Waters from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $360.00 to $415.00 in a research report on Monday, February 10th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $397.40.

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.