Henderson Group PLC bought a new stake in shares of Watsco Inc. (NYSE:WSO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 67,217 shares of the company’s stock, valued at approximately $9,457,000.
A number of other hedge funds have also made changes to their positions in WSO. Goldman Sachs Group Inc. increased its stake in shares of Watsco by 58.9% in the first quarter. Goldman Sachs Group Inc. now owns 534,228 shares of the company’s stock valued at $71,982,000 after buying an additional 198,001 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Watsco by 514.2% in the first quarter. Renaissance Technologies LLC now owns 229,700 shares of the company’s stock valued at $30,950,000 after buying an additional 192,300 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Watsco by 17.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 996,145 shares of the company’s stock valued at $134,221,000 after buying an additional 151,049 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Watsco during the second quarter valued at $12,479,000. Finally, First Republic Investment Management Inc. increased its stake in shares of Watsco by 1,985.0% in the first quarter. First Republic Investment Management Inc. now owns 85,442 shares of the company’s stock valued at $11,512,000 after buying an additional 81,344 shares during the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.
Shares of Watsco Inc. (NYSE:WSO) traded down 0.48% during trading on Monday, hitting $142.20. The stock had a trading volume of 262,414 shares. The stock’s 50-day moving average is $143.36 and its 200-day moving average is $138.90. Watsco Inc. has a 12-month low of $106.58 and a 12-month high of $149.99. The stock has a market capitalization of $4.63 billion, a P/E ratio of 28.81 and a beta of 0.94.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by $0.22. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business posted $1.85 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Watsco Inc. will post $5.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $4.20 dividend on an annualized basis and a yield of 2.95%. This is a boost from Watsco’s previous quarterly dividend of $0.85. Watsco’s dividend payout ratio (DPR) is presently 85.37%.
WSO has been the subject of several recent analyst reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research note on Wednesday, June 22nd. Seaport Global Securities cut Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Monday, July 25th. Longbow Research raised Watsco from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Friday. Barclays PLC set a $113.00 price target on Watsco and gave the company a “sell” rating in a report on Monday, July 25th. Finally, Stifel Nicolaus cut their price target on Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Watsco presently has an average rating of “Hold” and a consensus target price of $141.36.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.