AlphaQuest LLC Acquires 949 Shares of Watsco, Inc. $WSO

Key Points

• AlphaQuest LLC has significantly increased its stake in Watsco, Inc. by 921.4%, acquiring 949 additional shares during the first quarter, bringing its total holdings to 1,052 shares valued at $535,000.
• Watsco's stock price has a 50-day moving average of $444.02 and a 200-day average of $468.89, with a current market cap of $16.53 billion.
• The company reported earnings per share (EPS) of $4.52 for the last quarter, which fell short of analysts' expectations of $4.84, alongside a quarterly revenue of $2.06 billion compared to a forecast of $2.24 billion.

AlphaQuest LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 921.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,052 shares of the construction company's stock after purchasing an additional 949 shares during the period. AlphaQuest LLC's holdings in Watsco were worth $535,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new position in shares of Watsco during the 1st quarter worth about $266,000. Teacher Retirement System of Texas acquired a new position in shares of Watsco during the 1st quarter worth about $2,588,000. Golden State Wealth Management LLC lifted its position in shares of Watsco by 109.4% during the 1st quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock worth $113,000 after purchasing an additional 116 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Watsco by 133.1% during the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock worth $429,000 after purchasing an additional 482 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Watsco by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley set a $505.00 price target on Watsco in a report on Wednesday, July 2nd. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. UBS Group cut their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. upped their price target on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Performance

Shares of WSO stock traded down $6.93 during trading hours on Thursday, hitting $401.74. The company had a trading volume of 174,750 shares, 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 firm has a market capitalization of $16.29 billion, a price-to-earnings ratio of 30.81 and a beta of 0.95. The firm's fifty day moving average is $442.97 and its 200 day moving average is $467.59.

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 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 company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $4.49 earnings per share. The company's revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were given a dividend of $3.00 per share. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.0%. Watsco's dividend payout ratio is 92.02%.

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.