Watsco (NYSE:WSO) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $180.00 to $169.00 in a research note issued to investors on Monday. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 2.44% from the stock’s current price.
WSO has been the subject of several other reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research report on Monday, February 5th. KeyCorp restated a “buy” rating on shares of Watsco in a research report on Friday, November 17th. Morgan Stanley upped their target price on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday, October 26th. Susquehanna Bancshares set a $195.00 target price on Watsco and gave the stock a “buy” rating in a research report on Friday. Finally, Stephens set a $169.00 target price on Watsco and gave the stock a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Watsco presently has an average rating of “Hold” and an average price target of $170.50.
Watsco (NYSE WSO) opened at $164.98 on Monday. The company has a current ratio of 3.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5,896.55, a P/E ratio of 28.49 and a beta of 0.87. Watsco has a 52-week low of $134.08 and a 52-week high of $182.79.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares in the company, valued at $2,595,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.93% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock worth $456,201,000 after purchasing an additional 105,677 shares during the period. State Street Corp increased its holdings in shares of Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after buying an additional 50,751 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Watsco by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 768,615 shares of the construction company’s stock valued at $130,696,000 after buying an additional 3,569 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Watsco by 0.8% in the third quarter. Baillie Gifford & Co. now owns 701,295 shares of the construction company’s stock valued at $112,958,000 after buying an additional 5,761 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Watsco by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 549,423 shares of the construction company’s stock valued at $88,496,000 after buying an additional 3,692 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
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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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