ING Groep NV purchased a new position in Watsco Inc (NYSE:WSO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,013 shares of the construction company’s stock, valued at approximately $359,000.

Other hedge funds have also bought and sold shares of the company. Ostrum Asset Management bought a new position in Watsco in the 1st quarter worth approximately $100,000. Stevens Capital Management LP bought a new position in shares of Watsco during the 2nd quarter valued at approximately $242,000. Financial Gravity Wealth Inc. bought a new position in shares of Watsco during the 1st quarter valued at approximately $261,000. Naples Global Advisors LLC bought a new position in shares of Watsco during the 2nd quarter valued at approximately $272,000. Finally, GWM Advisors LLC bought a new position in shares of Watsco during the 2nd quarter valued at approximately $280,000. Institutional investors and hedge funds own 85.57% of the company’s stock.

WSO has been the subject of a number of research reports. Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. ValuEngine downgraded Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Robert W. Baird downgraded Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Tuesday, July 3rd. Seaport Global Securities downgraded Watsco from a “buy” rating to a “neutral” rating in a research report on Thursday, July 26th. Finally, Longbow Research downgraded Watsco from a “buy” rating to a “neutral” rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $184.14.

NYSE WSO opened at $175.75 on Friday. The company has a market cap of $6.57 billion, a PE ratio of 29.28 and a beta of 0.72. Watsco Inc has a one year low of $147.93 and a one year high of $192.94. The company has a quick ratio of 1.43, a current ratio of 3.10 and a debt-to-equity ratio of 0.09.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.07). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. Watsco had a return on equity of 14.26% and a net margin of 5.05%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 earnings per share. sell-side analysts expect that Watsco Inc will post 6.67 EPS for the current year.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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