Yes. This is typically atmospheric distortion: sunlight heats the water and nearby air, creating moving layers of air with different densities. Those layers bend light unevenly, which causes the shimmering, wavy look seen with long-distance telephoto shots.

It’s not usually a lens defect, and there’s only limited correction in-camera. To reduce it:

• shoot earlier in the day, before strong heating creates heat waves
• try a higher shooting position, so you’re looking through less heated air near the surface
• if the subject is static, use a tripod and a long exposure; this can average some of the distortion into blur rather than visible waviness

Some distortion may still remain, especially over long distances. Filters generally won’t solve the problem in any significant way.