Magnetar Financial LLC Takes $242,000 Position in Watsco, Inc. $WSO

Magnetar Financial LLC bought a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 548 shares of the construction company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. WPG Advisers LLC acquired a new stake in shares of Watsco in the first quarter valued at approximately $25,000. TCTC Holdings LLC raised its stake in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Watsco during the 2nd quarter valued at $26,000. TD Waterhouse Canada Inc. lifted its holdings in Watsco by 242.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in Watsco during the second quarter worth $34,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 1.1%

WSO stock opened at $346.17 on Thursday. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $562.56. The company has a market cap of $14.04 billion, a PE ratio of 27.04 and a beta of 0.93. The business has a 50-day simple moving average of $368.57 and a 200 day simple moving average of $414.28.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. The company had revenue of $2.07 billion during the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. On average, analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

Analyst Ratings Changes

WSO has been the subject of several research analyst reports. Zacks Research downgraded shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Morgan Stanley reduced their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. JPMorgan Chase & Co. reduced their price target on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Finally, William Blair reiterated a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $435.00.

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.