Watsco, Inc. (WSO) Rating Increased to Buy at Zacks Investment Research

While earnings beat the Zacks Consensus Estimate, sales missed the Consensus mark.

Just yesterday Watsco Inc (NYSE:WSO) traded -0.26% lower at $155.43. Finally, Morgan Stanley restated an "underweight" rating and set a $141.00 target price (up previously from $139.00) on shares of Watsco in a research note on Wednesday, July 26th.

Several hedge funds and other institutional investors have recently modified their holdings of WSO. Pacific Alternative Asset Management Company LLC bought a new stake in shares of Watsco during the second quarter worth about $704,000. Advisor Partners LLC boosted its stake in shares of Watsco by 0.9% in the first quarter.

Other institutional investors have also bought and sold shares of the company.

The share price of the company (NYSE:GHM) was down -0.20% during the last trading session, with a high of 19.97 and the volume of Graham Corporation shares traded was 49018. Public Employees Retirement Association of Colorado increased its stake in shares of Watsco by 15.7% in the second quarter. Wolfe Research assumed coverage on Watsco in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The value of the total investment in Watsco, Inc. decreased from $38,933,000 to $21,977,000 decreasing 43.6% quarter over quarter. Watsco had a return on equity of 14.52% and a net margin of 4.29%.

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Watsco (NYSE:WSO) last issued its earnings results on Tuesday, April 25th.

It is now trading at $147.47 marginally under the 50 day moving average which is $151.96 and which is marginally over the 200 day moving average of $147.09. Wedbush Securities Inc. now owns 6,870 shares of the construction company's stock valued at $984,000 after buying an additional 33 shares during the last quarter. This is a positive change from Watsco's previous quarterly dividend of $1.05. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company's stock valued at $151,000 after buying an additional 88 shares during the period. As of the end of the quarter Columbia Wanger Asset Management LLC had acquired 56,931 shares growing its position 17.7%. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 27.31 and a beta of 0.83. The company also announced a dividend that was paid on Monday the 31st of July 2017. They issued a "market perform" rating on the stock. As of the latest earnings report the EPS was $5.41 and is projected to be $5.78 for the current year with 32,682,000 shares now outstanding. JPMorgan Chase & Co. now owns 835,734 shares of the construction company's stock valued at $119,661,000 after buying an additional 60,535 shares during the last quarter. BidaskClub upgraded Watsco from a "hold" rating to a "buy" rating in a research report on Tuesday. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. The dividend payment was $1.250 per share for the quarter which comes to $5.00 on an annualized basis. The ex-dividend date of this dividend was Thursday, July 13th. The company presently has a consensus rating of "Hold" and an average target price of $163.20. The dividend yield was $3.34. Watsco's payout ratio is now 97.66%.

ILLEGAL ACTIVITY WARNING: "Watsco, Inc". They now have a Dollars 29 price target on the stock. "(NYSE:WSO) Position Increased by Retirement Systems of Alabama" was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States and worldwide copyright and trademark legislation. Bank of Montreal Can now owns 2,867 shares of the construction company's stock worth $442,000 after buying an additional 22 shares in the last quarter. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/12/watsco-inc-nysewso-shares-sold-by-russell-investments-group-ltd.html.

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.

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