GC Wealth Management RIA LLC acquired a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,237 shares of the construction company's stock, valued at approximately $546,000.
A number of other large investors also recently made changes to their positions in the stock. Manitou Investment Management Ltd. acquired a new position in shares of Watsco in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Watsco in the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new position in shares of Watsco in the 1st quarter valued at $25,000. TCTC Holdings LLC lifted its stake in shares of Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after purchasing an additional 30 shares during the period. Finally, City Holding Co. acquired a new position in shares of Watsco in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 89.71% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on WSO. Morgan Stanley set a $505.00 price target on Watsco in a research note on Wednesday, July 2nd. UBS Group cut their price target on Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $480.00.
Read Our Latest Stock Analysis on Watsco
Watsco Trading Up 1.2%
Shares of Watsco stock opened at $404.56 on Wednesday. The company has a market capitalization of $16.40 billion, a PE ratio of 31.02 and a beta of 0.95. Watsco, Inc. has a 12 month low of $378.35 and a 12 month high of $571.41. The stock's fifty day simple moving average is $415.05 and its 200 day simple moving average is $450.94.
Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.49 EPS. Analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.
About Watsco
(
Free Report)
Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
See Also
Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO - Free Report).
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