Vident Investment Advisory LLC Buys 5,186 Shares of Watsco Inc (WSO)
Vident Investment Advisory LLC boosted its stake in shares of Watsco Inc (NYSE:WSO) by 51.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,331 shares of the construction company’s stock after buying an additional 5,186 shares during the period. Vident Investment Advisory LLC’s holdings in Watsco were worth $2,733,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in WSO. Ostrum Asset Management purchased a new stake in Watsco in the first quarter worth $100,000. Ontario Teachers Pension Plan Board purchased a new stake in Watsco in the second quarter worth $241,000. Stevens Capital Management LP purchased a new stake in Watsco in the second quarter worth $242,000. Financial Gravity Wealth Inc. purchased a new stake in Watsco in the first quarter worth $261,000. Finally, Naples Global Advisors LLC purchased a new stake in Watsco in the second quarter worth $272,000. Institutional investors own 85.62% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine upgraded Watsco from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Longbow Research lowered Watsco from a “buy” rating to a “neutral” rating in a research note on Monday, July 30th. Seaport Global Securities lowered Watsco from a “buy” rating to a “neutral” rating in a research note on Thursday, July 26th. Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Finally, Robert W. Baird lowered Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $184.14.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.07). The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Watsco had a net margin of 5.05% and a return on equity of 14.26%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 EPS. sell-side analysts predict that Watsco Inc will post 6.67 earnings per share for the current year.
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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