Rakuten Investment Management Inc. Takes $4.02 Million Position in Watsco, Inc. $WSO

Rakuten Investment Management Inc. bought a new position in Watsco, Inc. (NYSE:WSO) in the 3rd quarter, HoldingsChannel reports. The fund bought 9,939 shares of the construction company’s stock, valued at approximately $4,018,000.

Other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Watsco in the 2nd quarter worth about $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Watsco by 2,366.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after purchasing an additional 71 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Watsco by 242.9% in the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Watsco in the second quarter worth approximately $34,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Watsco during the third quarter worth approximately $37,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE WSO opened at $388.41 on Friday. The business’s 50-day simple moving average is $352.11 and its 200-day simple moving average is $387.85. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $535.40. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 30.34 and a beta of 1.03.

Watsco (NYSE:WSO) last posted its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The firm had revenue of $2.07 billion during the quarter. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $3.00 dividend. The ex-dividend date is Friday, January 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.1%. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WSO shares. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $360.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Mizuho cut their price objective on Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a report on Monday, January 5th. Zacks Research lowered Watsco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. Finally, William Blair restated a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $404.14.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.