Zurcher Kantonalbank Zurich Cantonalbank grew its position in Watsco Inc (NYSE:WSO) by 35.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,816 shares of the construction company’s stock after acquiring an additional 476 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watsco were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of WSO. DF Dent & Co. Inc. lifted its holdings in shares of Watsco by 25.7% in the third quarter. DF Dent & Co. Inc. now owns 430,125 shares of the construction company’s stock valued at $69,280,000 after buying an additional 88,072 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Watsco by 68.4% in the third quarter. Riverbridge Partners LLC now owns 163,063 shares of the construction company’s stock valued at $26,265,000 after buying an additional 66,240 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Watsco in the fourth quarter valued at $7,802,000. Victory Capital Management Inc. lifted its holdings in shares of Watsco by 471.9% in the third quarter. Victory Capital Management Inc. now owns 63,144 shares of the construction company’s stock valued at $10,171,000 after buying an additional 52,103 shares during the period. Finally, State Street Corp lifted its holdings in shares of Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after buying an additional 50,751 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.
WSO has been the subject of several analyst reports. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a report on Monday, January 22nd. KeyCorp reaffirmed a “buy” rating on shares of Watsco in a report on Friday, November 17th. Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a research report on Friday, February 9th. Stephens set a $169.00 price target on Watsco and gave the company a “hold” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. dropped their price target on Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $168.88.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The company had revenue of $964.35 million for the quarter, compared to analyst estimates of $965.85 million. During the same period in the prior year, the company posted $0.81 EPS. The business’s revenue was up 5.6% on a year-over-year basis. analysts expect that Watsco Inc will post 6.77 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This article was first reported by Week Herald and is the property of of Week Herald. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://weekherald.com/2018/03/14/zurcher-kantonalbank-zurich-cantonalbank-acquires-476-shares-of-watsco-inc-wso-2.html.
Watsco Company Profile
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.
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.