56,259 Shares in Watsco, Inc. (WSO) Acquired by Artemis Investment Management LLP
Artemis Investment Management LLP purchased a new position in shares of Watsco, Inc. (NYSE:WSO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,259 shares of the construction company’s stock, valued at approximately $8,673,000. Artemis Investment Management LLP owned approximately 0.17% of Watsco at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS Group AG raised its position in shares of Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Watsco during the first quarter worth approximately $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the period. William Blair Investment Management LLC raised its position in shares of Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Watsco by 0.8% in the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.
Shares of Watsco, Inc. (WSO) opened at 148.16 on Friday. The stock’s 50 day moving average is $148.39 and its 200-day moving average is $146.18. Watsco, Inc. has a one year low of $128.60 and a one year high of $159.55. The company has a market cap of $4.84 billion, a P/E ratio of 27.40 and a beta of 0.82.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. Watsco’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. Equities research analysts forecast that Watsco, Inc. will post $5.78 earnings per share for the current year.
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A number of research analysts have issued reports on WSO shares. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus restated a “buy” rating and set a $176.00 target price (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Morgan Stanley restated an “underweight” rating and set a $141.00 target price (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Finally, Wolfe Research started coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $163.17.
Watsco Company Profile
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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