UBS Asset Management Americas Inc. reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 3.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,902 shares of the construction company’s stock after selling 803 shares during the period. UBS Asset Management Americas Inc. owned about 0.06% of Watsco worth $2,993,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of WSO. Private Trust Co. NA acquired a new stake in Watsco during the first quarter worth $463,000. Numeric Investors LLC acquired a new stake in Watsco during the fourth quarter worth $252,000. Federated Investors Inc. PA boosted its stake in Watsco by 0.9% in the fourth quarter. Federated Investors Inc. PA now owns 13,763 shares of the construction company’s stock worth $2,039,000 after buying an additional 129 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Watsco by 74.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,591 shares of the construction company’s stock worth $384,000 after buying an additional 1,107 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors and hedge funds.
Watsco, Inc. (NYSE:WSO) traded down 0.26% during midday trading on Friday, hitting $150.06. 249,701 shares of the company were exchanged. The firm’s 50-day moving average price is $151.78 and its 200-day moving average price is $146.97. The stock has a market capitalization of $4.91 billion, a PE ratio of 27.75 and a beta of 0.84. Watsco, Inc. has a one year low of $128.60 and a one year high of $159.55.
Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $1.82 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Watsco, Inc. will post $5.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, July 13th. This is an increase from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a yield of 3.33%. Watsco’s dividend payout ratio (DPR) is currently 93.11%.
A number of equities analysts have commented on WSO shares. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating and issued a $176.00 price target (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Seaport Global Securities upgraded shares of Watsco from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $160.00 in a research report on Wednesday, April 26th. Morgan Stanley restated an “underweight” rating and issued a $141.00 price target (up from $139.00) on shares of Watsco in a research report on Wednesday. Finally, BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Watsco presently has an average rating of “Hold” and a consensus price target of $164.00.
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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