Symphony Asset Management LLC reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,616 shares of the construction company’s stock after selling 3,824 shares during the quarter. Symphony Asset Management LLC’s holdings in Watsco were worth $1,945,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UBS Group AG lifted its holdings in Watsco by 67.0% during the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after acquiring an additional 13,165 shares during the period. Point72 Asset Management L.P. bought a new stake in Watsco during the first quarter worth $10,796,000. Bank of Montreal Can lifted its holdings in Watsco by 0.8% during the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after acquiring an additional 22 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Watsco by 41.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after acquiring an additional 343 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in Watsco by 13.9% during the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after acquiring an additional 29,423 shares during the period. Institutional investors and hedge funds own 81.62% of the company’s stock.

Shares of Watsco, Inc. (NYSE:WSO) traded up 1.24% during mid-day trading on Tuesday, hitting $154.70. The company’s stock had a trading volume of 12,496 shares. Watsco, Inc. has a 52-week low of $128.60 and a 52-week high of $159.55. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 28.61 and a beta of 0.82. The stock’s 50 day moving average price is $147.94 and its 200 day moving average price is $145.96.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. Equities analysts forecast that Watsco, Inc. will post $5.78 EPS for the current year.

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WSO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price target (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. BidaskClub upgraded Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Robert W. Baird reiterated a “buy” rating and set a $163.00 price target on shares of Watsco in a report on Friday, September 1st. Finally, Wolfe Research initiated coverage on Watsco in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $159.50.

About Watsco

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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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