AG2R LA Mondiale Gestion D Actifs Takes Position in Watsco, Inc. $WSO

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new stake in Watsco, Inc., purchasing 2,871 shares valued at approximately $1,459,000 in the first quarter.
• Watsco's recent earnings report showed a miss on EPS estimates with earnings of $4.52, falling short of the $4.84 expected, while revenue was also below expectations at $2.06 billion.
• The company declared a quarterly dividend of $3.00 per share, representing a 3.1% yield, and has a high payout ratio of 92.02%.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,871 shares of the construction company's stock, valued at approximately $1,459,000.

Other large investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC bought a new position in Watsco in the 1st quarter valued at approximately $266,000. Goldman Sachs Group Inc. raised 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 valued at $238,329,000 after buying an additional 180,951 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Watsco in the 1st quarter valued at approximately $2,588,000. Golden State Wealth Management LLC raised its holdings in Watsco by 109.4% in the 1st quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock valued at $113,000 after buying an additional 116 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Watsco by 133.1% in the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after buying an additional 482 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Trading Down 3.9%

Shares of WSO stock opened at $381.84 on Friday. The firm has a market capitalization of $15.48 billion, a PE ratio of 29.28 and a beta of 0.95. The firm has a fifty day simple moving average of $433.70 and a two-hundred day simple moving average of $460.02. Watsco, Inc. has a 12 month low of $378.35 and a 12 month high of $571.41.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's payout ratio is currently 92.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WSO. UBS Group dropped their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Morgan Stanley set a $505.00 price target on shares of Watsco in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $484.17.

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.

Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.