Kayne Anderson Rudnick Investment Management LLC Has $49.80 Million Stake in Watsco, Inc. (WSO)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 24.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 309,160 shares of the construction company’s stock after selling 100,232 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.87% of Watsco worth $49,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WSO. TimesSquare Capital Management LLC raised its holdings in shares of Watsco by 198.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock worth $116,205,000 after acquiring an additional 501,450 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Watsco by 54.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock worth $134,994,000 after acquiring an additional 309,675 shares during the period. DF Dent & Co. Inc. raised its holdings in shares of Watsco by 951.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock worth $52,745,000 after acquiring an additional 309,509 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Watsco by 306.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 257,243 shares of the construction company’s stock worth $39,667,000 after acquiring an additional 193,889 shares during the period. Finally, FMR LLC raised its holdings in shares of Watsco by 10.7% during the 2nd quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock worth $157,826,000 after acquiring an additional 99,041 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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Shares of Watsco, Inc. (WSO) remained flat at $$164.19 on Thursday. 283,100 shares of the stock were exchanged, compared to its average volume of 278,225. The stock has a market capitalization of $5,868.31, a PE ratio of 30.58 and a beta of 0.83. Watsco, Inc. has a 52 week low of $134.08 and a 52 week high of $167.94. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. equities analysts predict that Watsco, Inc. will post 5.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, October 13th. This represents a $5.00 dividend on an annualized basis and a yield of 3.05%. Watsco’s dividend payout ratio (DPR) is presently 92.42%.

Several brokerages recently issued reports on WSO. Robert W. Baird restated a “buy” rating and issued a $163.00 price objective on shares of Watsco in a 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. Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus restated a “buy” rating and issued a $154.00 price objective on shares of Watsco in a report on Thursday, September 7th. Finally, Morgan Stanley boosted their price objective on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $160.40.

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)

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