Watsco (NYSE:WSO) PT Lowered to $540.00

Watsco (NYSE:WSO) had its price target dropped by Robert W. Baird from $550.00 to $540.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective points to a potential upside of 15.75% from the stock’s current price.

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

Watsco Trading Down 3.8 %

WSO opened at $466.53 on Thursday. The stock has a market capitalization of $18.82 billion, a PE ratio of 35.69 and a beta of 0.88. Watsco has a 12-month low of $338.58 and a 12-month high of $520.41. The firm’s fifty day moving average price is $481.95 and its 200 day moving average price is $473.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $4.42 earnings per share. As a group, research analysts expect that Watsco will post 13.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Watsco

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Watsco during the second quarter worth about $26,000. EntryPoint Capital LLC grew its position in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the last quarter. ORG Partners LLC bought a new position in shares of Watsco during the first quarter worth about $31,000. Tortoise Investment Management LLC grew its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its position in Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after buying an additional 30 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

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.