Ascent Group LLC Has $1.12 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Ascent Group LLC lessened its position in Watsco, Inc. (NYSE:WSO) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,419 shares of the construction company’s stock after selling 102 shares during the period. Ascent Group LLC’s holdings in Watsco were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank acquired a new position in Watsco in the 1st quarter worth about $25,000. EntryPoint Capital LLC increased its holdings in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. ORG Partners LLC acquired a new position in Watsco in the 1st quarter worth about $31,000. Tortoise Investment Management LLC increased its holdings in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.8 %

Shares of WSO stock opened at $491.87 on Tuesday. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 37.84 and a beta of 0.88. The stock has a 50-day moving average of $477.99 and a 200-day moving average of $466.11. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $469.80.

Watsco Company Profile

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.