Intech Investment Management LLC Sells 4,855 Shares of Watsco, Inc. (NYSE:WSO)

Intech Investment Management LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 45.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,875 shares of the construction company’s stock after selling 4,855 shares during the quarter. Intech Investment Management LLC’s holdings in Watsco were worth $2,890,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its position in shares of Watsco by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,633 shares of the construction company’s stock valued at $705,000 after acquiring an additional 401 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Watsco by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the construction company’s stock worth $216,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Watsco by 159.0% in the first quarter. Bessemer Group Inc. now owns 202 shares of the construction company’s stock worth $87,000 after purchasing an additional 124 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Watsco by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 131,149 shares of the construction company’s stock valued at $56,653,000 after buying an additional 443 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the topic of several research analyst reports. Northcoast Research began coverage on shares of Watsco in a research note on Friday. They set a “neutral” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $491.25.

Watsco Trading Up 1.6 %

WSO opened at $554.79 on Friday. The company’s 50 day moving average is $499.99 and its 200 day moving average is $485.16. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $555.42.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.35 EPS. As a group, analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Watsco Company 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.