Stifel Financial Corp decreased its holdings in shares of Watsco Inc (NYSE:WSO) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,152 shares of the construction company’s stock after selling 377 shares during the quarter. Stifel Financial Corp owned about 0.06% of Watsco worth $4,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in WSO. Wells Fargo & Company MN raised its stake in shares of Watsco by 46.5% in the first quarter. Wells Fargo & Company MN now owns 654,189 shares of the construction company’s stock valued at $103,382,000 after acquiring an additional 207,597 shares during the period. FMR LLC grew its holdings in shares of Watsco by 21.6% in the second quarter. FMR LLC now owns 1,074,217 shares of the construction company’s stock worth $190,888,000 after purchasing an additional 190,819 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Watsco by 137.6% in the second quarter. Nordea Investment Management AB now owns 297,422 shares of the construction company’s stock worth $52,106,000 after purchasing an additional 172,250 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Watsco by 313.0% in the second quarter. Baird Financial Group Inc. now owns 224,367 shares of the construction company’s stock worth $40,420,000 after purchasing an additional 170,043 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Watsco in the second quarter worth about $18,724,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

NYSE WSO opened at $236.25 on Wednesday. The company has a market cap of $9.08 billion, a P/E ratio of 38.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.22. The stock has a 50-day moving average of $238.59 and a two-hundred day moving average of $186.36. Watsco Inc has a 1-year low of $132.97 and a 1-year high of $249.30.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, July 23rd. The construction company reported $2.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.38. Watsco had a return on equity of 13.38% and a net margin of 4.77%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts anticipate that Watsco Inc will post 6.39 EPS for the current fiscal year.

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Watsco from $127.00 to $130.00 and gave the stock an “underweight” rating in a report on Tuesday, June 23rd. Morgan Stanley lifted their price target on shares of Watsco from $146.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Seaport Global Securities reissued a “neutral” rating on shares of Watsco in a research note on Monday, July 27th. Vertical Research cut shares of Watsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Finally, Zacks Investment Research raised shares of Watsco from a “hold” rating to a “strong-buy” rating and set a $260.00 target price on the stock in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $183.83.

In other Watsco news, Director George Sape sold 9,667 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $235.25, for a total value of $2,274,161.75. Following the completion of the transaction, the director now owns 7,471 shares in the company, valued at $1,757,552.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.15% of the stock is owned by corporate insiders.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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