What’s Propelling Watsco, Inc. (WSO) to Reach Record High?

March 14, 2018 - By Clifton Ray

Investors sentiment increased to 1.58 in Q3 2017. Its up 0.13, from 1.45 in 2017Q2. It increased, as 29 investors sold Watsco, Inc. shares while 68 reduced holdings. 49 funds opened positions while 104 raised stakes. 28.54 million shares or 1.86% more from 28.02 million shares in 2017Q2 were reported.
Magnetar Limited reported 3,975 shares. First Citizens Bancshares owns 2,518 shares. Fdx Advisors holds 0.02% or 3,991 shares. Nj State Employees Deferred Compensation Plan, New Jersey-based fund reported 3,000 shares. Nelson Van Denburg And Campbell Wealth Mngmt Group Limited accumulated 0% or 19 shares. Tompkins Financial Corp accumulated 0% or 40 shares. State Common Retirement Fund holds 0.03% in Watsco, Inc. (NYSE:WSO) or 122,500 shares. Stevens Mngmt Lp reported 7,818 shares stake. The Indiana-based Donaldson Capital Mgmt Ltd Liability has invested 0.02% in Watsco, Inc. (NYSE:WSO). Bath Savings Trust holds 25,421 shares. Lpl Ltd Llc holds 2,014 shares. 258,601 are held by Northern Trust Corporation. Grace & White has invested 1.83% of its portfolio in Watsco, Inc. (NYSE:WSO). Putnam Ltd owns 59,752 shares. Morgan Stanley stated it has 0.01% in Watsco, Inc. (NYSE:WSO).

The stock of Watsco, Inc. (NYSE:WSO) reached all time high today, Mar, 14 and still has $188.50 target or 3.00 % above today’s $183.01 share price. This indicates more upside for the $6.25B company. This technical setup was reported by Barchart.com. If the $188.50 PT is reached, the company will be worth $187.53 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.96% or $1.74 during the last trading session, reaching $183.01. About 231,451 shares traded or 9.08% up from the average. Watsco, Inc. (NYSE:WSO) has risen 8.75% since March 14, 2017 and is uptrending. It has underperformed by 7.95% the S&P500.

Analysts await Watsco, Inc. (NYSE:WSO) to report earnings on April, 24. They expect $0.88 EPS, up 31.34 % or $0.21 from last year’s $0.67 per share. WSO’s profit will be $30.06M for 51.99 P/E if the $0.88 EPS becomes a reality. After $0.90 actual EPS reported by Watsco, Inc. for the previous quarter, Wall Street now forecasts -2.22 % negative EPS growth.

Watsco, Inc. (NYSE:WSO) Ratings Coverage

Among 11 analysts covering Watsco (NYSE:WSO), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. Watsco had 36 analyst reports since September 11, 2015 according to SRatingsIntel. The stock of Watsco, Inc. (NYSE:WSO) has “Buy” rating given on Thursday, February 8 by Stifel Nicolaus. The firm earned “Underweight” rating on Tuesday, December 20 by Morgan Stanley. Stifel Nicolaus maintained Watsco, Inc. (NYSE:WSO) rating on Thursday, March 24. Stifel Nicolaus has “Buy” rating and $140 target. Morgan Stanley maintained the stock with “Underweight” rating in Monday, September 25 report. Stifel Nicolaus maintained it with “Buy” rating and $163 target in Wednesday, April 26 report. The rating was maintained by Robert W. Baird with “Buy” on Tuesday, October 3. As per Monday, February 12, the company rating was maintained by JP Morgan. The rating was maintained by Stifel Nicolaus with “Buy” on Sunday, December 10. The firm has “Buy” rating given on Friday, June 23 by Stifel Nicolaus. Robert W. Baird maintained the stock with “Outperform” rating in Thursday, April 21 report.

Another recent and important Watsco, Inc. (NYSE:WSO) news was published by Globenewswire.com which published an article titled: “Watsco & Baird to Co-Host Technology Summit for Institutional Investors” on March 09, 2018.

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. The company has market cap of $6.25 billion. The firm distributes equipment, including residential central air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment and systems; and other specialized equipment. It has a 31.52 P/E ratio. It also distributes various parts comprising replacement compressors, evaporator coils, motors, and other component parts; and supplies, such as thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tapes, adhesives, and other ancillary supplies.

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