Visionary Asset Management Inc. acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,239 shares of the construction company’s stock, valued at approximately $345,000.
Other institutional investors also recently added to or reduced their stakes in the company. Wendell David Associates Inc. acquired a new stake in shares of Watsco during the first quarter worth about $701,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Watsco during the first quarter worth about $662,000. Louisiana State Employees Retirement System boosted its stake in shares of Watsco by 20.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the construction company’s stock worth $1,102,000 after buying an additional 1,300 shares during the last quarter. Caledonia Investments PLC acquired a new stake in shares of Watsco during the first quarter worth about $9,507,000. Finally, Private Trust Co. NA purchased a new stake in Watsco during the first quarter valued at $463,000. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Watsco, Inc. (WSO) traded down 0.26% on Friday, hitting $147.33. The stock had a trading volume of 205,787 shares. The company has a 50-day moving average price of $151.74 and a 200-day moving average price of $147.07. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 27.24 and a beta of 0.83. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 EPS. Equities analysts predict that Watsco, Inc. will post $5.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, July 13th. This is a boost from Watsco’s previous quarterly dividend of $1.05. Watsco’s dividend payout ratio (DPR) is currently 93.11%.
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Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Watsco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Wolfe Research assumed coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Morgan Stanley reissued an “underweight” rating and issued a $141.00 target price (up previously from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $176.00 target price (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $163.20.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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