Y Intercept Hong Kong Ltd Has $284,000 Stock Position in Watsco, Inc. (NYSE:WSO)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in Watsco, Inc. by 80.8%, selling 2,356 shares to hold only 559 shares valued at $284,000.
• Watsco announced a quarterly dividend of $3.00 per share, with an annualized dividend yield of 2.58% and a payout ratio of 92.24%.
• Current analyst ratings for Watsco reflect a consensus of "Hold" with a price target around $484.17, although some firms have varying price targets ranging from $440.00 to $560.00.

Y Intercept Hong Kong Ltd reduced its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 80.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559 shares of the construction company's stock after selling 2,356 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Watsco were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Manitou Investment Management Ltd. acquired a new position in Watsco during the first quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Watsco during the 1st quarter valued at $25,000. City Holding Co. bought a new position in Watsco during the 1st quarter valued at $29,000. Rossby Financial LCC bought a new position in Watsco during the 1st quarter valued at $33,000. Finally, ST Germain D J Co. Inc. boosted its stake in Watsco by 260.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock valued at $37,000 after acquiring an additional 52 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WSO has been the topic of a number of research reports. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. UBS Group dropped their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Morgan Stanley set a $505.00 target price on shares of Watsco in a report on Wednesday, July 2nd. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Trading Down 3.7%

Shares of WSO traded down $16.46 during midday trading on Friday, hitting $434.42. The stock had a trading volume of 375,572 shares, compared to its average volume of 301,426. The business has a 50-day simple moving average of $452.52 and a two-hundred day simple moving average of $476.93. The firm has a market cap of $17.60 billion, a P/E ratio of 33.31 and a beta of 1.04. Watsco, Inc. has a fifty-two week low of $418.31 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.49 EPS. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's payout ratio is currently 92.24%.

Watsco 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.