MBB Public Markets I LLC Purchases New Holdings in Watsco, Inc. (NYSE:WSO)

MBB Public Markets I LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,300 shares of the construction company’s stock, valued at approximately $1,065,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Motley Fool Asset Management LLC lifted its stake in Watsco by 263.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after buying an additional 231,987 shares in the last quarter. Swedbank AB purchased a new position in Watsco in the 1st quarter valued at about $90,714,000. Vanguard Group Inc. lifted its stake in Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after buying an additional 146,305 shares in the last quarter. Jennison Associates LLC lifted its stake in Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after buying an additional 62,593 shares in the last quarter. Finally, Norden Group LLC lifted its stake in Watsco by 2,109.5% in the 1st quarter. Norden Group LLC now owns 33,120 shares of the construction company’s stock valued at $14,309,000 after buying an additional 31,621 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WSO shares. JPMorgan Chase & Co. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $469.80.

Watsco Trading Down 0.8 %

WSO opened at $491.87 on Tuesday. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 37.84 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The company’s 50 day simple moving average is $477.99 and its two-hundred day simple moving average is $466.11. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41.

Watsco (NYSE:WSO) last released its quarterly 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). The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.42 EPS. Analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco 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.