Ameriprise Financial Inc. boosted its position in shares of Watsco Inc. (NYSE:WSO) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,122 shares of the company’s stock after buying an additional 16,103 shares during the period. Ameriprise Financial Inc. owned 0.24% of Watsco worth $10,991,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Blair William & Co. IL increased its position in shares of Watsco by 5.4% in the second quarter. Blair William & Co. IL now owns 535,243 shares of the company’s stock worth $75,303,000 after buying an additional 27,337 shares during the period. William Blair Investment Management LLC increased its position in shares of Watsco by 8.0% in the second quarter. William Blair Investment Management LLC now owns 240,133 shares of the company’s stock worth $33,784,000 after buying an additional 17,693 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Watsco during the second quarter worth approximately $305,000. Markel Corp increased its position in shares of Watsco by 18.1% in the second quarter. Markel Corp now owns 150,500 shares of the company’s stock worth $21,174,000 after buying an additional 23,100 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Watsco during the second quarter worth approximately $120,000. 67.33% of the stock is owned by institutional investors.
Shares of Watsco Inc. (NYSE:WSO) traded up 0.41% during trading on Friday, hitting $140.69. 49,411 shares of the stock traded hands. Watsco Inc. has a 1-year low of $106.58 and a 1-year high of $149.99. The company has a market cap of $4.58 billion, a P/E ratio of 28.51 and a beta of 1.03. The stock has a 50-day moving average of $144.44 and a 200 day moving average of $138.04.
Watsco (NYSE:WSO) last issued its earnings results on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by $0.22. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. Watsco’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 EPS. On average, equities research analysts predict that Watsco Inc. will post $5.31 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. JPMorgan Chase & Co. cut their target price on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Stifel Nicolaus cut their target price on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Barclays PLC set a $113.00 target price on shares of Watsco and gave the stock a “sell” rating in a research note on Monday, July 25th. Finally, Seaport Global Securities cut shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 target price for the company. in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $138.50.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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