Cullen Frost Bankers Inc. significantly increased its investment in Waters Corporation, lifting its stake by an impressive 1,750.0% during the second quarter of 2023. According to data from Holdings Channel, the firm now owns 222 shares of the medical instruments supplier, having acquired an additional 210 shares during the reporting period. As of its latest filing with the Securities and Exchange Commission, Cullen Frost’s holdings in Waters are valued at approximately $77,000.
A number of other institutional investors also adjusted their positions in Waters Corporation (NYSE: WAT) during the same period. Notably, Canvas Wealth Advisors LLC entered the market with a new stake worth $441,000. Meanwhile, Chevy Chase Trust Holdings LLC raised its investment by 0.9%, bringing its total shares to 31,822 and increasing the value of its holdings to $11,107,000 after acquiring an additional 292 shares.
Boston Trust Walden Corp made a significant move as well, enhancing its position by 2.3% and now holding 294,325 shares worth $102,731,000 following the purchase of 6,525 shares. Envestnet Portfolio Solutions Inc. expanded its stake by 21.9%, resulting in ownership of 3,050 shares valued at $1,065,000. Lastly, Sequoia Financial Advisors LLC increased its holdings by 4.2%, owning 17,407 shares worth $6,076,000.
Overall, institutional investors continue to dominate Waters Corporation, collectively holding 94.01% of the company’s stock.
Stock Performance and Analyst Ratings
As of the latest trading session, Waters Corporation opened at $358.79. The company shows a debt-to-equity ratio of 0.55, a current ratio of 1.75, and a quick ratio of 1.22. Over the past year, Waters has fluctuated between a low of $275.05 and a high of $423.56. Its market capitalization stands at $21.36 billion, with a price-to-earnings (P/E) ratio of 32.35 and a P/E growth (P/E/G) ratio of 3.34. The company also has a beta of 1.04, indicating a slight tendency towards volatility compared to the market.
Recent analyst reports have provided various price targets for Waters shares. On July 11, 2023, Scotiabank reaffirmed a “sector outperform” rating, setting a target price of $465.00. Conversely, Wells Fargo & Company revised its target from $330.00 to $315.00, assigning an “equal weight” rating. JPMorgan Chase & Co. increased its target from $300.00 to $325.00 and maintained a “neutral” stance. Deutsche Bank Aktiengesellschaft also set a target price of $315.00, while Redburn Partners established a target of $390.00.
In total, two analysts have issued a Strong Buy rating for Waters, six have given it a Buy rating, and nine have assigned a Hold rating. According to MarketBeat.com, the stock currently holds a consensus rating of “Moderate Buy” with an average target price of approximately $376.80.
About Waters Corporation
Waters Corporation specializes in analytical workflow solutions across Asia, the Americas, and Europe. The company operates through two primary segments: Waters and TA. Its product offerings include the design, manufacture, and servicing of high and ultra-performance liquid chromatography systems, as well as mass spectrometry (MS) technology systems. Additionally, Waters provides essential support products, including chromatography columns and various consumables, alongside post-warranty service plans.
For more insights and updates on Waters Corporation, stakeholders and interested parties can visit HoldingsChannel.com for the latest 13F filings and insider trades.
