Watsco, Inc. (WSO) Shares Sold by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 15.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,443 shares of the construction company’s stock after selling 789 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Watsco were worth $625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS Group AG increased its holdings in shares of Watsco by 67.0% during the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock valued at $4,698,000 after purchasing an additional 13,165 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Watsco during the first quarter valued at $10,796,000. Bank of Montreal Can increased its holdings in shares of Watsco by 0.8% during the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock valued at $442,000 after purchasing an additional 22 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Watsco by 41.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock valued at $168,000 after purchasing an additional 343 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of Watsco by 13.9% during the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock valued at $34,518,000 after purchasing an additional 29,423 shares during the period. 81.62% of the stock is currently owned by institutional investors.

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A number of brokerages have recently commented on WSO. BidaskClub raised Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, August 1st. Wolfe Research began coverage on Watsco in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Morgan Stanley reissued an “underweight” rating and set a $141.00 price target (up from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $154.00 price target on shares of Watsco in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $159.50.

Watsco, Inc. (NYSE:WSO) opened at 153.20 on Monday. The company has a market cap of $5.01 billion, a PE ratio of 28.33 and a beta of 0.82. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55. The company’s 50-day moving average price is $148.03 and its 200 day moving average price is $146.11.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Watsco, Inc. will post $5.78 EPS for the current year.

About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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