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.
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.
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