Crown Oak Advisors LLC Has $9 Million Stake in Watsco, Inc. $WSO

Crown Oak Advisors LLC raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,721 shares of the construction company’s stock after buying an additional 2,800 shares during the period. Watsco comprises approximately 4.3% of Crown Oak Advisors LLC’s portfolio, making the stock its 9th largest position. Crown Oak Advisors LLC owned about 0.07% of Watsco worth $9,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSO. Empowered Funds LLC grew its position in Watsco by 4.1% during the 1st quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock worth $3,013,000 after acquiring an additional 232 shares during the last quarter. American Century Companies Inc. increased its stake in Watsco by 17.6% in the 2nd quarter. American Century Companies Inc. now owns 18,711 shares of the construction company’s stock worth $8,263,000 after purchasing an additional 2,803 shares during the period. Prudential Financial Inc. lifted its position in Watsco by 5.3% in the second quarter. Prudential Financial Inc. now owns 3,837 shares of the construction company’s stock valued at $1,694,000 after purchasing an additional 194 shares during the last quarter. Norges Bank purchased a new stake in shares of Watsco during the second quarter valued at approximately $84,826,000. Finally, Lido Advisors LLC boosted its stake in shares of Watsco by 7.3% during the second quarter. Lido Advisors LLC now owns 1,129 shares of the construction company’s stock valued at $499,000 after purchasing an additional 77 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Down 0.0%

WSO opened at $370.31 on Friday. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $518.00. The stock has a market cap of $15.03 billion, a PE ratio of 30.58 and a beta of 1.06. The business has a 50 day moving average of $392.37 and a 200-day moving average of $373.49.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.26). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Watsco had a return on equity of 15.49% and a net margin of 6.87%.Watsco’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.37 earnings per share. Equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Morgan Stanley dropped their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 14th. Wolfe Research set a $349.00 price target on shares of Watsco in a report on Tuesday, December 9th. UBS Group initiated coverage on shares of Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price objective on the stock. Finally, Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watsco has an average rating of “Hold” and an average price target of $409.00.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.