Argyle Capital Management Inc. Sells 400 Shares of Waters Co. (NYSE:WAT)

Argyle Capital Management Inc. lessened its stake in shares of Waters Co. (NYSE:WAT) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the medical instruments supplier’s stock after selling 400 shares during the quarter. Waters comprises 1.3% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Argyle Capital Management Inc.’s holdings in Waters were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA boosted its position in shares of Waters by 55.3% during the 3rd quarter. Private Trust Co. NA now owns 118 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Waters during the 3rd quarter worth about $33,000. Exchange Traded Concepts LLC bought a new position in shares of Waters during the 4th quarter worth about $35,000. VisionPoint Advisory Group LLC boosted its position 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 worth $39,000 after purchasing an additional 108 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Waters during the 4th quarter worth about $39,000. Institutional investors own 94.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Linda Baddour sold 500 shares of Waters stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the transaction, the director now owns 2,250 shares in the company, valued at approximately $799,965. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is owned by corporate insiders.

Waters Price Performance

NYSE:WAT traded up $2.95 during trading hours on Friday, hitting $311.30. The stock had a trading volume of 270,575 shares, compared to its average volume of 367,375. The company has a 50 day simple moving average of $334.78 and a two-hundred day simple moving average of $307.57. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.22 and a quick ratio of 1.57. Waters Co. has a one year low of $231.90 and a one year high of $363.80. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 6.19 and a beta of 0.92.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.06. The firm had revenue of $819.50 million for the quarter, compared to analysts’ expectations of $815.50 million. Waters had a net margin of 21.72% and a return on equity of 81.30%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the company posted $3.84 EPS. Research analysts forecast that Waters Co. will post 11.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WAT has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of Waters from $290.00 to $330.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Barclays upped their target price on shares of Waters from $275.00 to $300.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. Finally, Evercore ISI increased their price objective on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $298.67.

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.