Allstate Corp Acquires Shares of 1,792 Waters Co. (NYSE:WAT)

Allstate Corp bought a new stake in shares of Waters Co. (NYSE:WAT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,792 shares of the medical instruments supplier’s stock, valued at approximately $665,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new stake in Waters during the fourth quarter valued at approximately $34,000. Fortitude Family Office LLC increased its position in shares of Waters by 235.7% during the 4th quarter. Fortitude Family Office LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after purchasing an additional 66 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Waters by 129.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 94 shares of the medical instruments supplier’s stock valued at $35,000 after buying an additional 53 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in Waters in the fourth quarter worth $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Waters by 54.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 125 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 44 shares during the period. Institutional investors own 94.01% of the company’s stock.

Waters Stock Performance

Shares of WAT stock opened at $368.53 on Tuesday. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.79 and a beta of 1.00. Waters Co. has a 52-week low of $279.24 and a 52-week high of $423.56. The company has a quick ratio of 0.65, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The company’s 50 day moving average is $386.70 and its 200 day moving average is $373.25.

Waters (NYSE:WAT) last released 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, sell-side analysts anticipate that Waters Co. will post 12.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WAT shares. Robert W. Baird raised shares of Waters from a “neutral” rating to an “outperform” rating and increased their target price for the company from $396.00 to $407.00 in a research note on Wednesday, March 26th. StockNews.com lowered Waters from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Sanford C. Bernstein upgraded Waters from a “market perform” rating to an “outperform” rating and set a $430.00 price target on the stock in a report on Friday, January 10th. Bank of America dropped their price objective on Waters from $430.00 to $410.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Baird R W upgraded Waters from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $401.31.

Waters 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.