New York State Common Retirement Fund boosted its position in Watsco, Inc. (NYSE:WSO) by 42.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,500 shares of the construction company’s stock after acquiring an additional 36,500 shares during the period. New York State Common Retirement Fund owned 0.34% of Watsco worth $19,731,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA bought a new position in Watsco in the second quarter worth approximately $125,000. Public Employees Retirement Association of Colorado boosted its holdings in Watsco by 15.7% in 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. CIBC Asset Management Inc bought a new position in shares of Watsco in the third quarter valued at approximately $206,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Watsco by 14.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,340 shares of the construction company’s stock valued at $207,000 after purchasing an additional 166 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in shares of Watsco by 95.8% in the second quarter. Flinton Capital Management LLC now owns 1,504 shares of the construction company’s stock valued at $232,000 after purchasing an additional 736 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.93% of the company’s stock.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. sell-side analysts anticipate that Watsco, Inc. will post 5.59 EPS for the current year.
WSO has been the topic of a number of recent research reports. Robert W. Baird restated a “buy” rating and issued a $163.00 target price on shares of Watsco in a report on Friday, September 1st. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley raised their target price on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. Stifel Nicolaus restated a “buy” rating and issued a $154.00 target price on shares of Watsco in a report on Thursday, September 7th. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $160.40.
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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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