6,487 Shares in Watsco, Inc. (NYSE:WSO) Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,487 shares of the construction company’s stock, valued at approximately $3,005,000.

A number of other institutional investors have also added to or reduced their stakes in WSO. Steward Partners Investment Advisory LLC lifted its stake in Watsco by 3.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,721 shares of the construction company’s stock worth $737,000 after purchasing an additional 54 shares in the last quarter. TD Asset Management Inc increased its stake in Watsco by 157.4% in the 4th quarter. TD Asset Management Inc now owns 6,374 shares of the construction company’s stock worth $2,731,000 after acquiring an additional 3,898 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Watsco by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 15,618 shares of the construction company’s stock worth $6,692,000 after acquiring an additional 150 shares in the last quarter. Bank of Nova Scotia lifted its position in Watsco by 89.2% during the fourth quarter. Bank of Nova Scotia now owns 1,890 shares of the construction company’s stock valued at $810,000 after purchasing an additional 891 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Watsco by 1.4% in the 4th quarter. California State Teachers Retirement System now owns 52,548 shares of the construction company’s stock worth $22,515,000 after buying an additional 712 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 0.9 %

WSO opened at $495.98 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The stock’s 50 day moving average price is $478.15 and its 200-day moving average price is $465.45. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 38.15 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.42 earnings per share. On average, equities analysts forecast that Watsco, Inc. will post 13.83 EPS for the current year.

Analysts Set New Price Targets

WSO has been the topic of several recent research reports. Robert W. Baird upped their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $469.80.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.