Baillie Gifford & Co. Boosts Holdings in Watsco, Inc. (WSO)

Baillie Gifford & Co. raised its stake in Watsco, Inc. (NYSE:WSO) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,534 shares of the construction company’s stock after acquiring an additional 3,854 shares during the quarter. Baillie Gifford & Co. owned about 2.13% of Watsco worth $107,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of WSO. BlackRock Inc. increased its position in Watsco by 5,677.9% in the 1st quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after acquiring an additional 2,610,583 shares in the last quarter. Vanguard Group Inc. increased its position in Watsco by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after acquiring an additional 517,615 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Watsco by 198.9% in the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after acquiring an additional 501,450 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Watsco by 109.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 409,392 shares of the construction company’s stock valued at $63,128,000 after acquiring an additional 214,274 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in Watsco in the 2nd quarter valued at about $31,782,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.

Shares of Watsco, Inc. (NYSE WSO) traded up 3.86% during midday trading on Friday, hitting $153.20. 575,936 shares of the stock traded hands. The firm’s 50-day moving average is $148.03 and its 200 day moving average is $146.11. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 28.33 and a beta of 0.82.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Watsco, Inc. will post $5.78 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. BidaskClub upgraded shares of Watsco from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a research report on Tuesday, June 27th. Wolfe Research initiated coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Morgan Stanley reiterated an “underweight” rating and set a $141.00 price target (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $159.50.

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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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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