Advisor Group Inc. Boosts Holdings in Watsco, Inc. (WSO)
Advisor Group Inc. raised its stake in Watsco, Inc. (NYSE:WSO) by 132.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,706 shares of the construction company’s stock after acquiring an additional 972 shares during the quarter. Advisor Group Inc.’s holdings in Watsco were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of WSO. BlackRock Inc. increased its position in Watsco by 5,677.9% in the 1st quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after acquiring an additional 2,610,583 shares in the last quarter. Vanguard Group Inc. increased its position in Watsco by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after acquiring an additional 517,615 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Watsco by 198.9% in the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after acquiring an additional 501,450 shares in the last quarter. Ameriprise Financial Inc. increased its position in Watsco by 54.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock valued at $134,994,000 after acquiring an additional 309,675 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Watsco by 109.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 409,392 shares of the construction company’s stock valued at $63,128,000 after acquiring an additional 214,274 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Shares of Watsco, Inc. (NYSE:WSO) opened at 159.56 on Friday. The firm has a market cap of $5.21 billion, a PE ratio of 29.50 and a beta of 0.84. Watsco, Inc. has a 12 month low of $128.60 and a 12 month high of $163.95. The stock’s 50 day moving average is $155.52 and its 200 day moving average is $147.97.
Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Analysts forecast that Watsco, Inc. will post $5.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, October 13th. Watsco’s dividend payout ratio is presently 93.11%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of 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. Morgan Stanley raised their price objective on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research report on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $154.00 price target on shares of Watsco in a research report on Thursday, September 7th. BidaskClub upgraded shares of Watsco from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Finally, Wolfe Research initiated coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $159.40.
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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