BNP Paribas Arbitrage SA trimmed its stake in shares of Watsco Inc (NYSE:WSO) by 36.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,719 shares of the construction company’s stock after selling 1,004 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Watsco were worth $281,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC bought a new stake in shares of Watsco in the first quarter worth $27,000. Quadrant Capital Group LLC boosted its stake in Watsco by 194.1% during the 1st quarter. Quadrant Capital Group LLC now owns 200 shares of the construction company’s stock valued at $27,000 after purchasing an additional 132 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Watsco during the 2nd quarter worth approximately $38,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of Watsco in the first quarter worth approximately $58,000. Finally, Parallel Advisors LLC raised its stake in shares of Watsco by 283.1% in the first quarter. Parallel Advisors LLC now owns 701 shares of the construction company’s stock worth $100,000 after purchasing an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.
Shares of NYSE WSO traded down $0.67 during mid-day trading on Tuesday, reaching $164.94. 202,721 shares of the company’s stock were exchanged, compared to its average volume of 269,728. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.92 and a quick ratio of 1.25. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.87. Watsco Inc has a 52 week low of $131.88 and a 52 week high of $184.90. The firm has a 50-day moving average price of $160.61 and a two-hundred day moving average price of $155.59.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, July 18th. The construction company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.14). Watsco had a return on equity of 14.63% and a net margin of 5.17%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $2.40 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Watsco Inc will post 6.59 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating and set a $167.00 target price for the company. in a research note on Saturday, August 3rd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Watsco presently has a consensus rating of “Hold” and a consensus price target of $162.80.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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