MBB Public Markets I LLC Takes $1.07 Million Position in Watsco, Inc. (NYSE:WSO)

MBB Public Markets I LLC bought a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 2,300 shares of the construction company’s stock, valued at approximately $1,065,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after purchasing an additional 62,593 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Watsco by 12.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock valued at $109,287,000 after purchasing an additional 28,047 shares during the last quarter. American National Bank increased its holdings in Watsco by 878.1% in the 1st quarter. American National Bank now owns 2,416 shares of the construction company’s stock valued at $1,044,000 after purchasing an additional 2,169 shares during the last quarter. First Trust Advisors LP increased its holdings in Watsco by 2.0% in the 4th quarter. First Trust Advisors LP now owns 310,787 shares of the construction company’s stock valued at $133,163,000 after purchasing an additional 5,949 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in Watsco in the 1st quarter valued at approximately $822,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $491.87 on Tuesday. The company has a fifty day simple moving average of $477.99 and a two-hundred day simple moving average of $466.11. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 37.84 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.42 EPS. As a group, equities analysts anticipate that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Watsco currently has an average rating of “Moderate Buy” and a consensus price target of $469.80.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.