Washington Trust Co Lowers stake in Watsco Inc (WSO)

Watsco Inc (WSO) : Washington Trust Co reduced its stake in Watsco Inc by 3.5% during the most recent quarter end. The investment management company now holds a total of 189,127 shares of Watsco Inc which is valued at $27,311,830 after selling 6,855 shares in Watsco Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Watsco Inc makes up approximately 1.76% of Washington Trust Co’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp reduced its stake in WSO by selling 18,340 shares or 11.57% in the most recent quarter. The Hedge Fund company now holds 140,185 shares of WSO which is valued at $20,244,116. Watsco Inc makes up approx 0.19% of King Luther Capital Management Corp’s portfolio.Vanguard Group Inc boosted its stake in WSO in the latest quarter, The investment management firm added 48,234 additional shares and now holds a total of 1,834,530 shares of Watsco Inc which is valued at $264,924,477. Watsco Inc makes up approx 0.02% of Vanguard Group Inc’s portfolio. Moors Cabot sold out all of its stake in WSO during the most recent quarter. The investment firm sold 1,954 shares of WSO which is valued $279,950.Creative Planning boosted its stake in WSO in the latest quarter, The investment management firm added 17 additional shares and now holds a total of 966 shares of Watsco Inc which is valued at $135,510.

Watsco Inc opened for trading at $145.87 and hit $147.46 on the upside on Tuesday, eventually ending the session at $147.11, with a gain of 0.99% or 1.44 points. The heightened volatility saw the trading volume jump to 86,972 shares. Company has a market cap of $5,218 M.

On the company’s financial health, Watsco Inc reported $1.82 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on Jul 22, 2016. Analyst had a consensus of $2.04. The company had revenue of $1214.40 million for the quarter, compared to analysts expectations of $1289.82 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.85 EPS.

Many Wall Street Analysts have commented on Watsco Inc. Seaport Global Securities Downgraded Watsco Inc on Jul 25, 2016 to ” Neutral”, Price Target of the shares are set at $150.Watsco Inc was Initiated by Susquehanna to “Positive” on Jun 1, 2016.

Watsco Inc. (Watsco) is a distributor of air conditioning heating and refrigeration equipment and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. It has market coverage on an export basis to Latin America and the Caribbean through which it serves more than 50000 contractors and dealers that service the replacement and new construction markets. Watsco sells a line of products: equipment including residential central air conditioners component parts and supplies including thermostats insulation material refrigerants ductwork grills registers sheet metal tools copper tubing concrete pads tape adhesives and other ancillary supplies electric and oil furnaces among others. It also sells products to the refrigeration market which include condensing units compressors evaporators and valves among others.

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