Baird Financial Group Inc. Sells 3,494 Shares of Watsco Inc (NYSE:WSO)

Baird Financial Group Inc. decreased its stake in shares of Watsco Inc (NYSE:WSO) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,045 shares of the construction company’s stock after selling 3,494 shares during the period. Baird Financial Group Inc. owned about 0.68% of Watsco worth $41,497,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WSO. HighTower Advisors LLC purchased a new position in shares of Watsco during the second quarter valued at approximately $257,000. Royal Bank of Canada lifted its holdings in Watsco by 46.9% during the second quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock worth $2,002,000 after acquiring an additional 4,146 shares during the period. State Street Corp lifted its holdings in Watsco by 6.8% during the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock worth $123,247,000 after acquiring an additional 50,751 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Watsco by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 64,773 shares of the construction company’s stock worth $9,988,000 after acquiring an additional 469 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Watsco by 190.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,492 shares of the construction company’s stock worth $1,155,000 after acquiring an additional 4,910 shares during the period. 85.11% of the stock is currently owned by institutional investors.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Monday, February 12th. JPMorgan Chase & Co. dropped their price target on Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Susquehanna Bancshares set a $195.00 price target on Watsco and gave the stock a “buy” rating in a report on Friday, February 9th. Stephens set a $169.00 price target on Watsco and gave the stock a “hold” rating in a report on Thursday, February 8th. Finally, KeyCorp reiterated a “buy” rating on shares of Watsco in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $168.88.

Shares of Watsco Inc (NYSE WSO) traded up $0.81 on Wednesday, hitting $182.14. The company’s stock had a trading volume of 349,020 shares, compared to its average volume of 268,362. The company has a market capitalization of $6,500.00, a price-to-earnings ratio of 33.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.38 and a current ratio of 3.21. Watsco Inc has a 52-week low of $134.08 and a 52-week high of $183.84.

Watsco (NYSE:WSO) last issued its earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). The firm had revenue of $964.35 million during the quarter, compared to the consensus estimate of $965.85 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. equities analysts forecast that Watsco Inc will post 6.81 EPS for the current year.

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Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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