Dudley & Shanley Inc. Has $17.59 Million Position in Watsco, Inc. $WSO

Key Points

• Dudley & Shanley Inc. increased its stake in Watsco, Inc. by 56.7%, owning approximately 0.10% of the company valued at $17.59 million as of the latest SEC filing.
• Watsco reported adjusted EPS of $4.52 for the last quarter, missing estimates by 32 cents, with revenue down 3.6% year-over-year at $2.06 billion.
• The company announced a quarterly dividend of $3.00 per share, which translates to an annualized yield of 3.1%.

Dudley & Shanley Inc. lifted its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 56.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,833 shares of the construction company's stock after purchasing an additional 14,405 shares during the period. Watsco accounts for about 2.8% of Dudley & Shanley Inc.'s portfolio, making the stock its 16th largest position. Dudley & Shanley Inc. owned 0.10% of Watsco worth $17,591,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WSO. Man Group plc grew its holdings in shares of Watsco by 26.8% during the fourth quarter. Man Group plc now owns 17,474 shares of the construction company's stock worth $8,281,000 after purchasing an additional 3,688 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Watsco by 5.4% during the fourth quarter. Quantinno Capital Management LP now owns 6,558 shares of the construction company's stock valued at $3,108,000 after acquiring an additional 337 shares during the period. ProShare Advisors LLC lifted its stake in shares of Watsco by 7.4% during the fourth quarter. ProShare Advisors LLC now owns 1,629 shares of the construction company's stock valued at $772,000 after acquiring an additional 112 shares during the period. Royal Bank of Canada lifted its stake in shares of Watsco by 1.5% during the fourth quarter. Royal Bank of Canada now owns 228,115 shares of the construction company's stock valued at $108,102,000 after acquiring an additional 3,301 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Watsco by 6.9% during the fourth quarter. Toronto Dominion Bank now owns 4,552 shares of the construction company's stock valued at $2,157,000 after acquiring an additional 294 shares during the period. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. UBS Group cut their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Finally, Morgan Stanley set a $505.00 price target on Watsco in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Stock Performance

NYSE:WSO traded down $7.16 during mid-day trading on Wednesday, hitting $387.85. The company had a trading volume of 471,412 shares, compared to its average volume of 398,640. Watsco, Inc. has a fifty-two week low of $378.35 and a fifty-two week high of $571.41. The business's fifty day moving average is $429.32 and its two-hundred day moving average is $457.99. The firm has a market cap of $15.73 billion, a P/E ratio of 29.74 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results 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 analyst estimates of $2.24 billion. During the same period in the previous year, the company posted $4.49 EPS. The company's quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

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