Watsco, Inc. $WSO Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937 shares of the construction company’s stock after selling 91 shares during the quarter. Fifth Third Bancorp’s holdings in Watsco were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Watsco by 0.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,557,610 shares of the construction company’s stock worth $791,734,000 after purchasing an additional 7,760 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Watsco by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock worth $739,088,000 after purchasing an additional 82,977 shares during the period. Blair William & Co. IL grew its stake in shares of Watsco by 5.7% during the 1st quarter. Blair William & Co. IL now owns 814,712 shares of the construction company’s stock worth $414,118,000 after purchasing an additional 43,776 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Watsco by 4.0% during the 1st quarter. JPMorgan Chase & Co. now owns 496,428 shares of the construction company’s stock worth $252,335,000 after purchasing an additional 18,958 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock valued at $238,329,000 after buying an additional 180,951 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Morgan Stanley set a $505.00 target price on Watsco in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $480.00.

Watsco Stock Performance

Shares of WSO stock opened at $400.07 on Tuesday. The stock’s fifty day moving average is $416.57 and its two-hundred day moving average is $451.27. The firm has a market capitalization of $16.22 billion, a P/E ratio of 30.68 and a beta of 0.96. Watsco, Inc. has a fifty-two week low of $378.35 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.49 EPS. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

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.