Visionary Asset Management Inc. Acquires Shares of 2,239 Watsco, Inc. (NYSE:WSO)

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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