PNC Financial Services Group Inc. raised its position in Watsco Inc. (NYSE:WSO) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,470 shares of the company’s stock after buying an additional 8 shares during the period. PNC Financial Services Group Inc.’s holdings in Watsco were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Watsco by 58.9% in the first quarter. Goldman Sachs Group Inc. now owns 534,228 shares of the company’s stock worth $71,982,000 after buying an additional 198,001 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Watsco by 514.2% in the first quarter. Renaissance Technologies LLC now owns 229,700 shares of the company’s stock worth $30,950,000 after buying an additional 192,300 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Watsco by 17.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 996,145 shares of the company’s stock worth $134,221,000 after buying an additional 151,049 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Watsco during the second quarter worth $12,899,000. Finally, First Quadrant L P CA acquired a new position in shares of Watsco during the second quarter worth $12,479,000. Institutional investors and hedge funds own 67.33% of the company’s stock.

Watsco Inc. (NYSE:WSO) traded up 0.56% during midday trading on Thursday, reaching $140.95. The company’s stock had a trading volume of 185,848 shares. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 28.56 and a beta of 1.03. Watsco Inc. has a 12-month low of $106.58 and a 12-month high of $149.99. The company’s 50-day moving average is $144.74 and its 200 day moving average is $137.56.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.22. Watsco had a net margin of 4.05% and a return on equity of 13.65%. The business earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Watsco’s revenue was down .7% on a year-over-year basis. Equities analysts forecast that Watsco Inc. will post $5.31 earnings per share for the current year.

Several equities analysts have recently commented on WSO shares. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a research report on Wednesday, June 22nd. SunTrust Banks Inc. started coverage on Watsco in a research report on Monday, June 6th. They set a “buy” rating on the stock. Seaport Global Securities lowered Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective on the stock. in a research report on Monday, July 25th. Barclays PLC set a $113.00 price objective on Watsco and gave the company a “sell” rating in a research report on Monday, July 25th. Finally, Susquehanna started coverage on Watsco in a research report on Wednesday, June 1st. They set a “positive” rating and a $154.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $138.50.

About Watsco

Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.

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