Point72 Asset Management L.P. raised its stake in Watsco Inc (NYSE:WSO) by 1,410.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,568 shares of the construction company’s stock after buying an additional 22,008 shares during the period. Point72 Asset Management L.P.’s holdings in Watsco were worth $3,987,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC grew its holdings in shares of Watsco by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 2,254 shares of the construction company’s stock valued at $368,000 after purchasing an additional 99 shares during the period. State of Alaska Department of Revenue boosted its holdings in Watsco by 1.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,107 shares of the construction company’s stock valued at $1,325,000 after purchasing an additional 145 shares during the last quarter. Brookstone Capital Management boosted its holdings in Watsco by 353.0% in the 2nd quarter. Brookstone Capital Management now owns 15,502 shares of the construction company’s stock valued at $2,535,000 after purchasing an additional 12,080 shares during the last quarter. Arizona State Retirement System boosted its holdings in Watsco by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 23,391 shares of the construction company’s stock valued at $3,825,000 after purchasing an additional 314 shares during the last quarter. Finally, Middleton & Co Inc MA grew its stake in shares of Watsco by 15.5% in the 2nd quarter. Middleton & Co Inc MA now owns 12,105 shares of the construction company’s stock valued at $1,979,000 after buying an additional 1,620 shares during the period. Institutional investors own 79.01% of the company’s stock.

NYSE WSO opened at $176.25 on Tuesday. The stock has a fifty day simple moving average of $176.62 and a 200-day simple moving average of $165.68. The company has a current ratio of 3.12, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.78 billion, a PE ratio of 27.16, a P/E/G ratio of 2.15 and a beta of 0.82. Watsco Inc has a twelve month low of $131.88 and a twelve month high of $181.57.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, October 17th. The construction company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.03). Watsco had a net margin of 5.29% and a return on equity of 15.07%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm posted $2.11 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts predict that Watsco Inc will post 6.62 EPS for the current year.

In other Watsco news, Director George Sape sold 550 shares of Watsco stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $174.87, for a total transaction of $96,178.50. Following the completion of the sale, the director now directly owns 8,031 shares in the company, valued at $1,404,380.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.61% of the company’s stock.

A number of analysts have recently issued reports on WSO shares. Robert W. Baird raised their price target on shares of Watsco from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Watsco from $132.00 to $138.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Morgan Stanley upped their price objective on Watsco from $145.00 to $158.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Buckingham Research lowered their price objective on Watsco from $165.00 to $164.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $160.40.

Watsco Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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