R Squared Ltd Takes $773,000 Position in Watsco, Inc. $WSO

Key Points

• R Squared Ltd acquired a new position in Watsco, Inc., purchasing 1,750 shares valued at approximately $773,000 during the second quarter.
• Institutional investors collectively hold 89.71% of Watsco's stock, with several funds increasing their positions or acquiring new stakes recently.
• Watsco announced a $3.00 quarterly dividend, with an annualized yield of 3.3%, reflecting a high dividend payout ratio of 92.02%.

R Squared Ltd purchased a new position in Watsco, Inc. (NYSE:WSO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,750 shares of the construction company's stock, valued at approximately $773,000.

Several other institutional investors have also modified their holdings of WSO. WPG Advisers LLC purchased a new stake in shares of Watsco in the first quarter valued at about $25,000. Ameritas Advisory Services LLC acquired a new position in Watsco in the second quarter valued at approximately $26,000. TCTC Holdings LLC grew its position in Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock worth $28,000 after acquiring an additional 30 shares during the period. Rossby Financial LCC purchased a new stake in Watsco in the first quarter valued at $33,000. Finally, Ransom Advisory Ltd purchased a new stake in Watsco in the first quarter valued at $45,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WSO shares. UBS Group dropped their price target on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. decreased their target price on Watsco from $425.00 to $400.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 15th. William Blair reaffirmed a "market perform" rating on shares of Watsco in a research report on Wednesday, October 15th. Mizuho lowered their price objective on shares of Watsco from $525.00 to $400.00 and set a "neutral" rating for the company in a research note on Friday, October 17th. Finally, Morgan Stanley cut their target price on shares of Watsco from $505.00 to $460.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $447.50.

Watsco Price Performance

NYSE:WSO opened at $358.89 on Friday. Watsco, Inc. has a 12 month low of $350.00 and a 12 month high of $571.41. The firm has a market capitalization of $14.55 billion, a PE ratio of 27.52 and a beta of 0.94. The business's fifty day moving average price is $394.18 and its 200 day moving average price is $436.90.

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 (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The business 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 company posted $4.49 earnings per share. The company's revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be issued a $3.00 dividend. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.3%. 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.

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