Quantitative Investment Management LLC Takes Position in Watsco, Inc. $WSO

Key Points

• Quantitative Investment Management LLC acquired 926 shares of Watsco, Inc. valued at approximately $470,000 during the first quarter.
• Watsco reported $4.52 EPS for its latest quarter, missing the consensus estimate of $4.84, as revenue declined 3.6% year-over-year.
• The company announced a quarterly dividend of $3.00, translating to a 2.9% dividend yield, with a payout ratio of 92.02%.

Quantitative Investment Management LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 926 shares of the construction company's stock, valued at approximately $470,000.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Watsco during the first quarter valued at about $25,000. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco during the first quarter worth about $25,000. TCTC Holdings LLC boosted its holdings in shares of Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock worth $28,000 after purchasing an additional 30 shares during the period. City Holding Co. purchased a new stake in shares of Watsco during the first quarter worth about $29,000. Finally, Rossby Financial LCC purchased a new stake in shares of Watsco during the first quarter worth about $33,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WSO. Morgan Stanley set a $505.00 target price on shares of Watsco in a report on Wednesday, July 2nd. UBS Group dropped their target price 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. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their target price 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $484.17.

Watsco Stock Down 1.7%

Shares of NYSE WSO traded down $6.93 on Thursday, reaching $401.74. 174,750 shares of the company's stock traded hands, compared to its average volume of 334,525. Watsco, Inc. has a 12 month low of $397.73 and a 12 month high of $571.41. The business's 50 day simple moving average is $442.97 and its two-hundred day simple moving average is $467.59. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 30.81 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business posted $4.49 EPS. Watsco's revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share 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 paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.0%. Watsco's dividend payout ratio (DPR) is currently 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.