Watsco, Inc. $WSO Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has reduced its stake in Watsco, Inc. by 19.1%, now holding 8,625 shares valued at approximately $4.38 million.
• Watsco reported earnings of $4.52 EPS for the last quarter, missing estimates, with a revenue of $2.06 billion, down 3.6% year-over-year.
• The company announced a quarterly dividend of $3.00 per share, representing an annualized yield of 3.1%.

Intech Investment Management LLC lessened its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,625 shares of the construction company's stock after selling 2,040 shares during the period. Intech Investment Management LLC's holdings in Watsco were worth $4,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC raised 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 valued at $791,734,000 after buying an additional 7,760 shares during the period. Charles Schwab Investment Management Inc. raised 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 valued at $739,088,000 after buying an additional 82,977 shares during the period. Blair William & Co. IL raised 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 valued at $414,118,000 after buying an additional 43,776 shares during the period. JPMorgan Chase & Co. raised 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 valued at $252,335,000 after buying an additional 18,958 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Watsco by 89,376.0% in the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock valued at $242,867,000 after buying an additional 477,268 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Price Performance

Shares of Watsco stock traded up $4.44 on Monday, reaching $386.38. 566,524 shares of the company were exchanged, compared to its average volume of 364,822. Watsco, Inc. has a 1-year low of $378.35 and a 1-year high of $571.41. The company has a market cap of $15.67 billion, a P/E ratio of 29.63 and a beta of 0.96. The stock's 50 day moving average price is $432.28 and its 200-day moving average price is $458.92.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the firm posted $4.49 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a $3.00 dividend. 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 dividend payout ratio is 92.02%.

Analysts Set New Price Targets

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

Watsco 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.