Ninety One UK Ltd Purchases 20,903 Shares of Watsco Inc (NYSE:WSO)

Ninety One UK Ltd boosted its stake in shares of Watsco Inc (NYSE:WSO) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 373,451 shares of the construction company’s stock after purchasing an additional 20,903 shares during the period. Ninety One UK Ltd owned approximately 0.97% of Watsco worth $66,362,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Inc. OK acquired a new position in Watsco during the second quarter worth $27,182,000. Bridgeway Capital Management Inc. acquired a new stake in Watsco during the second quarter worth about $15,389,000. Neuberger Berman Group LLC increased its position in Watsco by 0.5% during the second quarter. Neuberger Berman Group LLC now owns 894,988 shares of the construction company’s stock worth $158,948,000 after purchasing an additional 4,686 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Watsco by 11.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,232,699 shares of the construction company’s stock worth $219,052,000 after buying an additional 129,706 shares during the period. Finally, Advisors Capital Management LLC boosted its stake in Watsco by 3.7% during the second quarter. Advisors Capital Management LLC now owns 3,761 shares of the construction company’s stock worth $668,000 after buying an additional 133 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

WSO stock traded down $1.21 during trading hours on Wednesday, hitting $235.04. 232,541 shares of the stock traded hands, compared to its average volume of 262,639. The stock has a 50-day simple moving average of $238.59 and a 200 day simple moving average of $186.36. Watsco Inc has a one year low of $132.97 and a one year high of $249.30. The company has a market cap of $9.08 billion, a P/E ratio of 38.53 and a beta of 0.78. The company has a current ratio of 2.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.02.

Watsco (NYSE:WSO) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $2.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.38. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Watsco had a return on equity of 13.38% and a net margin of 4.77%. Watsco’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $2.40 EPS. Analysts forecast that Watsco Inc will post 6.39 earnings per share for the current year.

In other news, Director George Sape sold 9,667 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $235.25, for a total transaction of $2,274,161.75. Following the completion of the sale, the director now directly owns 7,471 shares of the company’s stock, valued at approximately $1,757,552.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.15% of the stock is currently owned by corporate insiders.

WSO has been the subject of several research analyst reports. Vertical Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “strong-buy” rating and set a $260.00 target price on the stock in a report on Thursday, July 30th. Seaport Global Securities reiterated a “neutral” rating on shares of Watsco in a research report on Monday, July 27th. Morgan Stanley boosted their price objective on shares of Watsco from $146.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $127.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Watsco presently has a consensus rating of “Hold” and a consensus price target of $183.83.

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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