Watsco (NYSE:WSO) Coverage Initiated at Raymond James

Equities research analysts at Raymond James started coverage on shares of Watsco (NYSE:WSO) in a research note issued to investors on Friday,Benzinga reports. The firm set a “market perform” rating on the construction company’s stock.

A number of other analysts have also recently commented on the company. Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $488.33.

Watsco Price Performance

Shares of NYSE WSO opened at $490.84 on Friday. Watsco has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a market capitalization of $19.82 billion, a P/E ratio of 37.93 and a beta of 0.95. The company’s 50 day simple moving average is $509.79 and its 200 day simple moving average is $492.09.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company earned $4.35 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts expect that Watsco will post 12.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Watsco

A number of hedge funds and other institutional investors have recently made changes to their positions in WSO. J. W. Coons Advisors LLC increased its holdings in Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. My Legacy Advisors LLC boosted its position in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after buying an additional 21 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the last quarter. CWM LLC raised its position in Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after buying an additional 24 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Company Profile

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.