Watsco (NYSE:WSO) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Watsco (NYSE:WSO - Get Free Report) had its price objective boosted by equities research analysts at Robert W. Baird from $540.00 to $560.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the construction company's stock. Robert W. Baird's target price points to a potential upside of 12.42% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating for the company. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Watsco presently has an average rating of "Hold" and an average target price of $495.00.

Watsco Trading Down 3.3 %

Shares of NYSE WSO traded down $17.09 during midday trading on Wednesday, reaching $498.12. 285,992 shares of the stock were exchanged, compared to its average volume of 244,926. The company has a market capitalization of $20.11 billion, a P/E ratio of 37.59 and a beta of 0.95. Watsco has a 52-week low of $380.58 and a 52-week high of $571.41. The stock has a 50 day moving average price of $484.99 and a 200-day moving average price of $491.92.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, analysts forecast that Watsco will post 14.62 earnings per share for the current year.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WSO. FMR LLC lifted its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after buying an additional 346,470 shares in the last quarter. Norges Bank acquired a new position in Watsco during the fourth quarter valued at approximately $118,312,000. International Assets Investment Management LLC lifted its position in shares of Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after purchasing an additional 233,167 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Watsco during the fourth quarter worth $104,533,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Watsco during the fourth quarter worth $63,603,000. 89.71% of the stock is owned by institutional investors and hedge funds.

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.