Comerica Securities Inc. Acquires Shares of 7,676 Watsco, Inc. (WSO)

Comerica Securities Inc. acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,676 shares of the construction company’s stock, valued at approximately $1,184,000.

Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of Watsco during the first quarter worth $450,000. Flinton Capital Management LLC grew its stake in shares of Watsco by 9.1% during the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after purchasing an additional 64 shares during the period. Winslow Evans & Crocker Inc. grew its stake in shares of Watsco by 300.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after purchasing an additional 600 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of Watsco by 15.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after purchasing an additional 129 shares during the period. Finally, Creative Planning grew its stake in shares of Watsco by 6.1% during the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after purchasing an additional 60 shares during the period. 81.62% of the stock is owned by institutional investors and hedge funds.

Watsco, Inc. (WSO) traded up 0.200% on Friday, reaching $152.665. The company’s stock had a trading volume of 47,552 shares. Watsco, Inc. has a 52-week low of $128.60 and a 52-week high of $159.55. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 28.229 and a beta of 0.82. The firm’s 50-day moving average price is $148.46 and its 200-day moving average price is $146.14.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $1.82 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post $5.78 earnings per share for the current year.

A number of equities research analysts recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $154.00 price objective on shares of Watsco in a research note on Thursday, September 7th. Robert W. Baird reaffirmed a “buy” rating and set a $163.00 price objective on shares of Watsco in a research note on Friday, September 1st. BidaskClub cut Watsco from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $141.00 price objective (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $159.50.

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About Watsco

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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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