SG Americas Securities LLC Purchases 1,465 Shares of Watsco, Inc. $WSO

SG Americas Securities LLC lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 173.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,309 shares of the construction company’s stock after acquiring an additional 1,465 shares during the quarter. SG Americas Securities LLC’s holdings in Watsco were worth $1,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. Goldman Sachs Group Inc. boosted its stake in shares of Watsco by 62.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock valued at $238,329,000 after purchasing an additional 180,951 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Watsco during the 1st quarter worth $54,536,000. Charles Schwab Investment Management Inc. raised its position in shares of Watsco by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock valued at $739,088,000 after acquiring an additional 82,977 shares during the last quarter. Nuveen LLC acquired a new position in shares of Watsco in the 1st quarter valued at $41,218,000. Finally, Schwartz Investment Counsel Inc. boosted its position in shares of Watsco by 81.8% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 120,000 shares of the construction company’s stock worth $52,994,000 after purchasing an additional 54,000 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of Watsco stock opened at $336.58 on Friday. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 26.30 and a beta of 0.93. The stock’s 50-day moving average is $371.55 and its 200-day moving average is $417.04. Watsco, Inc. has a one year low of $323.05 and a one year high of $571.41.

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

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. Watsco’s dividend payout ratio (DPR) is 93.75%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WSO. Zacks Research downgraded Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Mizuho reduced their price target on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. JPMorgan Chase & Co. decreased their price target on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. Finally, William Blair reissued a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.