AEGON ASSET MANAGEMENT UK Plc Buys 3,660 Shares of Watsco, Inc. $WSO

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in Watsco, Inc. by 3.3%, owning a total of 116,225 shares valued at approximately $51.1 million after purchasing 3,660 additional shares.
• Watsco reported a quarterly EPS of $4.52, falling short of analysts' expectations by $0.32, and a revenue of $2.06 billion, down 3.6% compared to the same quarter last year.
• The company declared a quarterly dividend of $3.00 per share, effective October 31, representing an annualized rate of $12.00, with a yield of 3.3% and a payout ratio of 92.02%.

AEGON ASSET MANAGEMENT UK Plc raised its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,225 shares of the construction company's stock after buying an additional 3,660 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.29% of Watsco worth $51,133,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WSO. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Watsco by 0.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,557,610 shares of the construction company's stock worth $791,734,000 after acquiring an additional 7,760 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Watsco by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company's stock worth $739,088,000 after acquiring an additional 82,977 shares during the last quarter. Blair William & Co. IL grew its holdings in Watsco by 5.7% in the 1st quarter. Blair William & Co. IL now owns 814,712 shares of the construction company's stock worth $414,118,000 after acquiring an additional 43,776 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Watsco by 4.0% in the 1st quarter. JPMorgan Chase & Co. now owns 496,428 shares of the construction company's stock worth $252,335,000 after acquiring an additional 18,958 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Watsco by 62.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company's stock worth $238,329,000 after acquiring an additional 180,951 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock opened at $366.98 on Wednesday. The stock has a market capitalization of $14.88 billion, a PE ratio of 28.14 and a beta of 0.94. Watsco, Inc. has a 52-week low of $361.57 and a 52-week high of $571.41. The company has a 50-day simple moving average of $401.51 and a two-hundred day simple moving average of $442.81.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $4.49 earnings per share. The business's revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.3%. Watsco's payout ratio is currently 92.02%.

Wall Street Analyst Weigh In

WSO has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Watsco in a research report on Wednesday, October 8th. Finally, UBS Group dropped their target price on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $472.50.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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