Manatuck Hill Partners LLC Buys Shares of 14,000 Watsco, Inc. (WSO)
Manatuck Hill Partners LLC bought a new position in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,000 shares of the construction company’s stock, valued at approximately $2,159,000.
Other hedge funds have also recently modified their holdings of the company. UBS Group AG grew its position in shares of Watsco by 67.0% during the 1st quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Watsco by 16.1% in the second quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock valued at $4,741,000 after acquiring an additional 4,253 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Watsco by 0.8% in the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock valued at $442,000 after acquiring an additional 22 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Watsco in the first quarter valued at about $10,796,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock valued at $168,000 after acquiring an additional 343 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.
Watsco, Inc. (WSO) traded up 0.506% during trading on Monday, reaching $161.885. The company’s stock had a trading volume of 97,597 shares. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $162.63. The stock has a market capitalization of $5.29 billion, a PE ratio of 29.934 and a beta of 0.84. The stock has a 50 day moving average price of $148.82 and a 200 day moving average price of $146.20.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. Analysts anticipate that Watsco, Inc. will post $5.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.10%. Watsco’s payout ratio is 93.11%.
A number of analysts recently weighed in on WSO shares. Morgan Stanley upped their price objective on shares of Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a research note on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and set a $154.00 target price on shares of Watsco in a research report on Thursday, September 7th. Robert W. Baird reissued a “buy” rating and set a $163.00 target price on shares of Watsco in a research report on Friday, September 1st. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average price target of $161.17.
Watsco Company Profile
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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