Bain Capital Public Equity Management LLC bought a new position in Watsco Inc (NYSE:WSO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,768 shares of the construction company’s stock, valued at approximately $6,422,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Two Sigma Advisers LP purchased a new stake in Watsco in the fourth quarter worth $2,834,000. Ellington Management Group LLC purchased a new stake in Watsco in the fourth quarter worth $306,000. Stone Ridge Asset Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at $1,500,000. Guggenheim Capital LLC increased its stake in shares of Watsco by 7.8% during the fourth quarter. Guggenheim Capital LLC now owns 5,157 shares of the construction company’s stock valued at $877,000 after buying an additional 374 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Watsco by 800.0% during the fourth quarter. Deutsche Bank AG now owns 126,058 shares of the construction company’s stock valued at $21,433,000 after buying an additional 112,051 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.
Several brokerages have recently commented on WSO. JPMorgan Chase & Co. cut their price target on Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Stephens set a $169.00 price target on Watsco and gave the company a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating and set a $201.00 price target on the stock. in a research note on Saturday, February 3rd. Finally, Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Watsco presently has an average rating of “Hold” and a consensus target price of $168.88.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The company had revenue of $964.35 million for the quarter, compared to the consensus estimate of $965.85 million. During the same period in the previous year, the business earned $0.81 EPS. Watsco’s revenue for the quarter was up 5.6% compared to the same quarter last year. analysts forecast that Watsco Inc will post 6.77 EPS for the current year.
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.
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