Watsco (NYSE:WSO) PT Lowered to $540.00

Watsco (NYSE:WSO) had its price objective decreased by Robert W. Baird from $550.00 to $540.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target indicates a potential upside of 15.75% from the company’s previous close.

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Price Performance

Watsco stock opened at $466.53 on Thursday. Watsco has a 1 year low of $338.58 and a 1 year high of $520.41. The firm has a 50 day moving average price of $481.95 and a 200 day moving average price of $473.28. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 35.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $4.42 earnings per share. Watsco’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Watsco will post 13.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WSO. International Assets Investment Management LLC lifted its position in shares of Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after purchasing an additional 233,167 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Watsco by 263.6% during the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after purchasing an additional 231,987 shares in the last quarter. Swedbank AB acquired a new position in shares of Watsco during the first quarter worth $90,714,000. Vanguard Group Inc. lifted its position in shares of Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after acquiring an additional 62,593 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

About Watsco

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.