Parametric Portfolio Associates LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 107.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,717 shares of the construction company’s stock after purchasing an additional 23,686 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.14% of Watsco worth $7,050,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of WSO. Waldron LP purchased a new stake in Watsco during the 1st quarter worth about $224,000. Credit Agricole S A increased its position in Watsco by 89.2% during the 1st quarter. Credit Agricole S A now owns 4,126 shares of the construction company’s stock worth $591,000 after purchasing an additional 1,945 shares in the last quarter. Principal Financial Group Inc. increased its position in Watsco by 19.5% during the 1st quarter. Principal Financial Group Inc. now owns 124,420 shares of the construction company’s stock worth $17,814,000 after purchasing an additional 20,280 shares in the last quarter. FMR LLC increased its position in Watsco by 5.4% during the 1st quarter. FMR LLC now owns 924,472 shares of the construction company’s stock worth $132,366,000 after purchasing an additional 47,626 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Watsco by 2.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,497 shares of the construction company’s stock worth $786,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
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A number of analysts recently commented on WSO shares. BidaskClub upgraded Watsco from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Wolfe Research started coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Morgan Stanley reiterated an “underweight” rating and set a $141.00 price objective (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, August 1st. Finally, Robert W. Baird reiterated a “buy” rating and set a $163.00 price objective on shares of Watsco in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Watsco presently has a consensus rating of “Hold” and a consensus price target of $160.40.
Shares of Watsco, Inc. (NYSE WSO) opened at 165.81 on Friday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 30.66 and a beta of 0.84. Watsco, Inc. has a 52 week low of $132.83 and a 52 week high of $166.46. The firm has a 50-day moving average price of $158.46 and a 200-day moving average price of $149.06.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, equities analysts expect that Watsco, Inc. will post $5.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, October 13th. Watsco’s payout ratio is 92.42%.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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