Watsco, Inc. (WSO) Holdings Raised by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in Watsco, Inc. (NYSE:WSO) by 54.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 875,680 shares of the construction company’s stock after purchasing an additional 309,675 shares during the period. Ameriprise Financial Inc. owned approximately 2.68% of Watsco worth $134,994,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Teacher Retirement System of Texas increased its stake in Watsco by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 2,426 shares of the construction company’s stock valued at $374,000 after purchasing an additional 21 shares in the last quarter. Bank of Montreal Can increased its stake in Watsco by 0.8% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Watsco by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,542 shares of the construction company’s stock valued at $392,000 after purchasing an additional 32 shares in the last quarter. Creative Planning increased its stake in Watsco by 6.1% in the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock valued at $160,000 after purchasing an additional 60 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock valued at $110,000 after purchasing an additional 64 shares in the last quarter. 81.62% of the stock is owned by hedge funds and other institutional investors.

WSO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 target price (up previously from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 target price (up previously from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $163.00 target price on shares of Watsco in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $159.50.

Shares of Watsco, Inc. (NYSE WSO) opened at 155.00 on Friday. The company has a market cap of $5.07 billion, a P/E ratio of 28.66 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 firm has a 50-day moving average of $148.59 and a 200 day moving average of $146.17.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $1.82 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Watsco, Inc. will post $5.78 earnings per share for the current fiscal year.

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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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