New Age Alpha Advisors LLC reduced its position in Watsco, Inc. (NYSE:WSO - Free Report) by 38.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,369 shares of the construction company's stock after selling 2,755 shares during the period. New Age Alpha Advisors LLC's holdings in Watsco were worth $2,221,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new stake in Watsco during the fourth quarter valued at $5,342,000. Russell Investments Group Ltd. raised its position in shares of Watsco by 2.8% during the 4th quarter. Russell Investments Group Ltd. now owns 16,855 shares of the construction company's stock valued at $7,987,000 after buying an additional 457 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Watsco by 4.1% in the 4th quarter. Bank of Montreal Can now owns 11,624 shares of the construction company's stock valued at $5,508,000 after acquiring an additional 462 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Watsco by 134.6% in the 4th quarter. Renaissance Technologies LLC now owns 62,400 shares of the construction company's stock valued at $29,571,000 after acquiring an additional 35,800 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Watsco by 8.3% in the fourth quarter. Bessemer Group Inc. now owns 341 shares of the construction company's stock worth $162,000 after acquiring an additional 26 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on WSO shares. JPMorgan Chase & Co. upped their price objective on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley set a $505.00 price target on Watsco in a research report on Wednesday, July 2nd. Robert W. Baird cut their price objective on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. Finally, UBS Group dropped their price target on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $484.17.
Check Out Our Latest Stock Report on WSO
Watsco Stock Performance
Shares of NYSE:WSO opened at $418.14 on Thursday. The firm's 50 day simple moving average is $450.42 and its 200-day simple moving average is $475.26. Watsco, Inc. has a one year low of $417.46 and a one year high of $571.41. The firm has a market cap of $16.94 billion, a PE ratio of 32.07 and a beta of 0.95.
Watsco (NYSE:WSO - Get Free Report) last issued its earnings results 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 during 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.49 earnings per share. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.
Watsco Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a $3.00 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. Watsco's payout ratio is currently 92.02%.
Watsco Profile
(
Free Report)
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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