Voya Investment Management LLC Acquires 3,045 Shares of Watsco, Inc. $WSO

Key Points

• Voya Investment Management LLC has increased its holdings in Watsco, Inc. by 23.1%, acquiring an additional 3,045 shares, bringing their total to 16,218 shares valued at approximately $8.24 million.
• Watsco recently reported earnings of $4.52 EPS, falling short of analysts' expectations of $4.84, and had quarterly revenue of $2.06 billion, down 3.6% from the previous year.
• The company declared a quarterly dividend of $3.00 per share, resulting in an annualized dividend of $12.00 with a yield of 3.1%, despite a high payout ratio of 92.02%.

Voya Investment Management LLC lifted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,218 shares of the construction company's stock after purchasing an additional 3,045 shares during the quarter. Voya Investment Management LLC's holdings in Watsco were worth $8,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WSO. GAMMA Investing LLC lifted its stake in Watsco by 89,376.0% during the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock worth $242,867,000 after purchasing an additional 477,268 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company's stock valued at $238,329,000 after buying an additional 180,951 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Watsco in the 1st quarter worth approximately $54,536,000. Charles Schwab Investment Management Inc. boosted its stake in Watsco by 6.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company's stock worth $739,088,000 after buying an additional 82,977 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Watsco in the first quarter worth approximately $41,218,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Watsco Price Performance

WSO stock traded up $5.68 during trading on Friday, reaching $389.93. The company had a trading volume of 634,248 shares, compared to its average volume of 401,385. Watsco, Inc. has a 52 week low of $378.35 and a 52 week high of $571.41. The company has a market cap of $15.81 billion, a P/E ratio of 29.90 and a beta of 0.95. The business has a 50 day moving average of $425.83 and a 200 day moving average of $456.22.

Watsco (NYSE:WSO - Get Free Report) last posted 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). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $4.49 earnings per share. The business's revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's dividend payout ratio is presently 92.02%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley set a $505.00 price target on shares of Watsco in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, 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 research note on Wednesday, June 25th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Watsco presently has an average rating of "Hold" and an average price target of $484.17.

About Watsco

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.