AQR Capital Management LLC Buys 7,050 Shares of Watsco, Inc. $WSO

Key Points

• AQR Capital Management LLC increased its holdings in Watsco, Inc. by 28.0%, acquiring an additional 7,050 shares in Q1, bringing its total ownership to 32,217 shares valued at approximately $15.8 million.
• The company's recent quarterly earnings report showed earnings per share (EPS) of $4.52, which missed analysts' estimates of $4.84, alongside a revenue of $2.06 billion that also fell short of expectations.
• Watsco declared a quarterly dividend of $3.00 per share, contributing to an annualized yield of 3.0% and a payout ratio of 92.02%.

AQR Capital Management LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,217 shares of the construction company's stock after purchasing an additional 7,050 shares during the period. AQR Capital Management LLC owned about 0.08% of Watsco worth $15,835,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Manitou Investment Management Ltd. acquired a new stake in shares of Watsco during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Watsco during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in shares of Watsco in the first quarter valued at approximately $25,000. TCTC Holdings LLC increased its holdings in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of Watsco in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WSO shares. UBS Group lowered their price target 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 objective on shares of Watsco in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $484.17.

Watsco Price Performance

WSO stock traded down $15.58 during midday trading on Friday, hitting $381.84. The company's stock had a trading volume of 713,532 shares, compared to its average volume of 345,967. Watsco, Inc. has a twelve month low of $378.35 and a twelve month high of $571.41. The company's fifty day moving average price is $433.70 and its 200 day moving average price is $460.28. The stock has a market capitalization of $15.48 billion, a P/E ratio of 29.28 and a beta of 0.95.

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

Watsco Announces Dividend

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

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.