Nationwide Fund Advisors grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,290 shares of the construction company’s stock after acquiring an additional 16,419 shares during the quarter. Nationwide Fund Advisors owned 0.48% of Watsco worth $23,946,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia purchased a new position in shares of Watsco during the first quarter worth approximately $450,000. Flinton Capital Management LLC raised its stake in shares of Watsco by 9.1% during the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after acquiring an additional 64 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Watsco by 300.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after acquiring an additional 600 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Watsco by 15.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after acquiring an additional 129 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Watsco by 6.1% during the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after acquiring an additional 60 shares in the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.
Watsco, Inc. (NYSE WSO) opened at 155.00 on Friday. The company has a 50 day moving average of $148.59 and a 200 day moving average of $146.17. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55. The stock has a market capitalization of $5.07 billion, a P/E ratio of 28.66 and a beta of 0.82.
Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Watsco’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post $5.78 EPS for the current fiscal year.
Several research firms have commented on WSO. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price target (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. BidaskClub raised shares of Watsco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Tuesday, June 27th. Wolfe Research initiated coverage on shares of Watsco in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 target price (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $159.50.
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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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