Ascent Group LLC Sells 102 Shares of Watsco, Inc. (NYSE:WSO)

Ascent Group LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 2,419 shares of the construction company’s stock after selling 102 shares during the quarter. Ascent Group LLC’s holdings in Watsco were worth $1,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WSO. Mather Group LLC. boosted its holdings in Watsco by 10.2% in the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after acquiring an additional 27 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after acquiring an additional 30 shares in the last quarter. Trueblood Wealth Management LLC boosted its holdings in Watsco by 0.9% in the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock worth $1,556,000 after acquiring an additional 32 shares in the last quarter. Finally, InterOcean Capital Group LLC boosted its holdings in Watsco by 5.9% in the first quarter. InterOcean Capital Group LLC now owns 570 shares of the construction company’s stock worth $246,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.8 %

WSO stock opened at $491.87 on Tuesday. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $477.99 and its 200-day moving average is $466.11. The firm has a market capitalization of $19.82 billion, a PE ratio of 37.84 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its quarterly 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 business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.42 earnings per share. Sell-side analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird increased their price target on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $469.80.

About Watsco

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.