Ascent Group LLC Buys 18,827 Shares of Watsco, Inc. $WSO

Ascent Group LLC lifted its position in Watsco, Inc. (NYSE:WSO) by 1,226.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,362 shares of the construction company’s stock after acquiring an additional 18,827 shares during the period. Ascent Group LLC’s holdings in Watsco were worth $6,861,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WSO. SJS Investment Consulting Inc. raised its holdings in shares of Watsco by 2,366.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after purchasing an additional 71 shares during the period. TruNorth Capital Management LLC bought a new position in Watsco during the third quarter worth about $37,000. Capital A Wealth Management LLC grew its holdings in Watsco by 4,700.0% during the second quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock worth $41,000 after purchasing an additional 94 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Watsco during the third quarter worth approximately $49,000. Finally, First Horizon Corp acquired a new position in Watsco during the third quarter worth approximately $51,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WSO shares. UBS Group initiated coverage on Watsco in a report on Monday, January 5th. They set a “neutral” rating and a $370.00 price target for the company. Mizuho set a $425.00 price objective on shares of Watsco in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Wolfe Research set a $349.00 target price on shares of Watsco in a research note on Tuesday, December 9th. Finally, Morgan Stanley decreased their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $409.00.

Watsco Stock Performance

NYSE:WSO opened at $370.31 on Friday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 30.58 and a beta of 1.06. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $518.00. The stock has a fifty day moving average price of $392.37 and a 200-day moving average price of $373.33.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.26). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. Watsco had a return on equity of 15.49% and a net margin of 6.87%.The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.37 EPS. Research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.