Pacific Alternative Asset Management Company LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,566 shares of the construction company’s stock, valued at approximately $704,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WSO. Winslow Evans & Crocker Inc. grew its holdings in shares of Watsco by 300.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after purchasing an additional 600 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Watsco by 15.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after purchasing an additional 129 shares in the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of Watsco by 9.1% during the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock worth $151,000 after purchasing an additional 88 shares in the last quarter. Creative Planning grew its holdings in shares of Watsco by 6.1% during the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after purchasing an additional 60 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Several research analysts have recently commented on WSO shares. Robert W. Baird reissued a “buy” rating and set a $163.00 price objective on shares of Watsco in a report on Friday, September 1st. BidaskClub lowered Watsco from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price objective (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. Finally, Morgan Stanley reissued an “underweight” rating and set a $141.00 price objective (up previously from $139.00) on shares of Watsco in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $159.50.

Shares of Watsco, Inc. (NYSE:WSO) traded up 0.62% on Friday, hitting $158.55. The stock had a trading volume of 252,500 shares. The firm has a 50-day moving average price of $148.82 and a 200-day moving average price of $146.20. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55. The stock has a market capitalization of $5.18 billion, a P/E ratio of 29.32 and a beta of 0.82.

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

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Watsco Profile

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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