Scharf Investments LLC Purchases Shares of 218,826 Watsco Inc (NYSE:WSO)

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Scharf Investments LLC purchased a new stake in shares of Watsco Inc (NYSE:WSO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 218,826 shares of the construction company’s stock, valued at approximately $35,785,000. Watsco comprises approximately 1.4% of Scharf Investments LLC’s investment portfolio, making the stock its 25th largest holding. Scharf Investments LLC owned 0.58% of Watsco at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC raised its position in Watsco by 86.9% during the 2nd quarter. HighTower Advisors LLC now owns 14,756 shares of the construction company’s stock valued at $2,407,000 after purchasing an additional 6,861 shares during the last quarter. Fiduciary Management Inc. WI raised its position in Watsco by 30.5% during the 2nd quarter. Fiduciary Management Inc. WI now owns 281,638 shares of the construction company’s stock valued at $46,056,000 after purchasing an additional 65,849 shares during the last quarter. Commonwealth Bank of Australia raised its position in Watsco by 62.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,600 shares of the construction company’s stock valued at $425,000 after purchasing an additional 1,000 shares during the last quarter. Aptus Capital Advisors LLC raised its position in Watsco by 18.5% during the 2nd quarter. Aptus Capital Advisors LLC now owns 3,750 shares of the construction company’s stock valued at $613,000 after purchasing an additional 585 shares during the last quarter. Finally, Northern Trust Corp raised its position in Watsco by 1.2% during the 2nd quarter. Northern Trust Corp now owns 270,282 shares of the construction company’s stock valued at $44,199,000 after purchasing an additional 3,312 shares during the last quarter. 77.21% of the stock is owned by institutional investors and hedge funds.

Shares of WSO stock traded up $0.21 during midday trading on Friday, reaching $169.40. 8,929 shares of the stock were exchanged, compared to its average volume of 222,362. Watsco Inc has a 1 year low of $131.88 and a 1 year high of $184.90. The company’s 50 day moving average is $160.74 and its two-hundred day moving average is $155.70. The company has a current ratio of 2.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a market cap of $6.28 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87.

Watsco (NYSE:WSO) last posted its earnings results on Thursday, July 18th. The construction company reported $2.40 earnings per share 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 firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $2.40 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Watsco Inc will post 6.59 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating and set a $167.00 target price on the stock. in a report on Saturday, August 3rd. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Watsco presently has an average rating of “Hold” and an average target price of $162.80.

Watsco Company Profile

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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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