Public Employees Retirement System of Ohio increased its position in shares of Watsco Inc (NYSE:WSO) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,834 shares of the construction company’s stock after purchasing an additional 97 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Watsco were worth $6,062,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. grew its holdings in Watsco by 29.2% in the second quarter. Baillie Gifford & Co. now owns 1,456,702 shares of the construction company’s stock valued at $238,214,000 after purchasing an additional 329,126 shares during the last quarter. Carlson Capital L P acquired a new position in Watsco during the second quarter worth about $50,883,000. Scharf Investments LLC purchased a new stake in shares of Watsco in the second quarter valued at about $35,785,000. Nuveen Asset Management LLC purchased a new stake in shares of Watsco in the second quarter valued at about $23,929,000. Finally, Bahl & Gaynor Inc. grew its position in shares of Watsco by 89.5% in the second quarter. Bahl & Gaynor Inc. now owns 251,726 shares of the construction company’s stock valued at $41,165,000 after purchasing an additional 118,860 shares during the last quarter. 79.01% of the stock is owned by hedge funds and other institutional investors.

In other news, Director George Sape sold 550 shares of Watsco stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $174.87, for a total transaction of $96,178.50. Following the completion of the sale, the director now directly owns 8,031 shares in the company, valued at $1,404,380.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.61% of the company’s stock.

WSO opened at $176.25 on Tuesday. The firm has a market cap of $6.78 billion, a P/E ratio of 27.16, a PEG ratio of 2.15 and a beta of 0.82. The business’s fifty day simple moving average is $176.62 and its 200 day simple moving average is $165.68. Watsco Inc has a 52 week low of $131.88 and a 52 week high of $181.57. The company has a quick ratio of 1.33, a current ratio of 3.12 and a debt-to-equity ratio of 0.19.

Watsco (NYSE:WSO) last announced its earnings results on Thursday, October 17th. The construction company reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.03). Watsco had a net margin of 5.29% and a return on equity of 15.07%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm posted $2.11 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Watsco Inc will post 6.62 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Watsco from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Buckingham Research reduced their target price on Watsco from $165.00 to $164.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Morgan Stanley upped their target price on Watsco from $145.00 to $158.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. increased their target price on Watsco from $132.00 to $138.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $160.40.

Watsco Company Profile

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.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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