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.

TRADEMARK VIOLATION NOTICE: This news story was published by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this news story can be read at https://www.watchlistnews.com/manatuck-hill-partners-llc-buys-shares-of-14000-watsco-inc-wso/1603419.html.

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.