Kayne Anderson Rudnick Investment Management LLC grew its holdings in Watsco Inc (NYSE:WSO) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 639,735 shares of the construction company’s stock after purchasing an additional 34,684 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 1.67% of Watsco worth $113,683,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. M&T Bank Corp acquired a new position in Watsco during the 1st quarter worth approximately $26,865,000. Rockefeller Capital Management L.P. bought a new position in shares of Watsco in the 1st quarter valued at $42,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Watsco during the 1st quarter valued at $51,000. Signaturefd LLC boosted its holdings in shares of Watsco by 99.5% during the 2nd quarter. Signaturefd LLC now owns 375 shares of the construction company’s stock valued at $67,000 after acquiring an additional 187 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Watsco in the 1st quarter worth about $61,000. 81.54% of the stock is owned by institutional investors.
In other news, Director George Sape sold 9,667 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $235.25, for a total value of $2,274,161.75. Following the completion of the sale, the director now directly owns 7,471 shares in the company, valued at approximately $1,757,552.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.15% of the stock is currently owned by corporate insiders.
WSO stock traded down $7.10 during mid-day trading on Tuesday, reaching $231.21. The company’s stock had a trading volume of 154,300 shares, compared to its average volume of 266,160. Watsco Inc has a 12 month low of $132.97 and a 12 month high of $249.30. The company has a current ratio of 2.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $234.91 and its 200 day moving average price is $183.69. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 37.97 and a beta of 0.78.
Watsco (NYSE:WSO) last released its quarterly earnings data on Thursday, July 23rd. The construction company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.38. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Watsco had a net margin of 4.77% and a return on equity of 13.38%. Watsco’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. As a group, equities analysts expect that Watsco Inc will post 6.39 EPS for the current fiscal year.
WSO has been the topic of several research reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “strong-buy” rating and set a $260.00 price target on the stock in a report on Thursday, July 30th. Morgan Stanley upped their price target on shares of Watsco from $146.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Vertical Research downgraded shares of Watsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Watsco in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on Watsco from $127.00 to $130.00 and gave the company an “underweight” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Watsco has a consensus rating of “Hold” and a consensus target price of $183.83.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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