Westfield Capital Management Co. LP Trims Holdings in Watsco, Inc. (WSO)
Westfield Capital Management Co. LP cut its stake in Watsco, Inc. (NYSE:WSO) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,744 shares of the construction company’s stock after selling 6,777 shares during the period. Westfield Capital Management Co. LP owned approximately 0.38% of Watsco worth $21,864,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in Watsco by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock valued at $4,741,000 after purchasing an additional 4,253 shares during the period. Advisor Group Inc. boosted its holdings in Watsco by 132.4% in the 2nd quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock valued at $263,000 after purchasing an additional 972 shares during the period. Royal Bank of Canada boosted its holdings in Watsco by 46.9% in the 2nd quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock valued at $2,002,000 after purchasing an additional 4,146 shares during the period. Bank of Montreal Can boosted its holdings in Watsco by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock valued at $442,000 after purchasing an additional 22 shares during the period. Finally, Motley Fool Asset Management LLC raised its stake in shares of Watsco by 332.4% in the 2nd quarter. Motley Fool Asset Management LLC now owns 80,000 shares of the construction company’s stock valued at $12,336,000 after buying an additional 61,500 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on WSO shares. BidaskClub upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Stifel Nicolaus restated a “buy” rating and issued a $154.00 price objective on shares of Watsco in a research note on Thursday, September 7th. Robert W. Baird restated a “buy” rating and issued a $163.00 price objective on shares of Watsco in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. 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 has a consensus rating of “Hold” and a consensus target price of $160.40.
Shares of Watsco, Inc. (NYSE:WSO) traded up $2.52 during mid-day trading on Tuesday, hitting $168.51. 449,400 shares of the stock were exchanged, compared to its average volume of 275,490. Watsco, Inc. has a 52 week low of $134.08 and a 52 week high of $171.15. The firm has a market cap of $5,932.65, a PE ratio of 30.91 and a beta of 0.83. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. research analysts forecast that Watsco, Inc. will post 5.59 EPS for the current year.
In related news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.93% of the company’s stock.
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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