Watsco, Inc. (NYSE:WSO) Shares Purchased by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,010 shares of the construction company's stock after purchasing an additional 679 shares during the period. Worldquant Millennium Advisors LLC's holdings in Watsco were worth $9,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. Norges Bank acquired a new position in Watsco in the 4th quarter valued at about $118,312,000. Lord Abbett & CO. LLC purchased a new position in shares of Watsco in the 4th quarter valued at approximately $104,533,000. Proficio Capital Partners LLC purchased a new position in shares of Watsco in the 4th quarter valued at approximately $63,603,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after purchasing an additional 118,713 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Watsco by 542.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 110,752 shares of the construction company's stock worth $52,484,000 after purchasing an additional 93,506 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 2.2%

WSO stock opened at $459.64 on Thursday. The company has a market cap of $18.57 billion, a P/E ratio of 34.69 and a beta of 1.11. Watsco, Inc. has a 52 week low of $439.08 and a 52 week high of $571.42. The company's 50-day moving average price is $488.08 and its 200 day moving average price is $497.13.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. Watsco's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.61%. Watsco's dividend payout ratio is 92.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. UBS Group dropped their price target on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird dropped their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Finally, StockNews.com raised Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $480.83.

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.

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