Oak Ridge Investments LLC Trims Position in Watsco, Inc. (WSO)

Oak Ridge Investments LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,025 shares of the construction company’s stock after selling 112,691 shares during the period. Watsco comprises approximately 1.7% of Oak Ridge Investments LLC’s holdings, making the stock its 9th largest holding. Oak Ridge Investments LLC owned about 0.75% of Watsco worth $43,010,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Quantbot Technologies LP purchased a new position in Watsco during the 3rd quarter valued at about $207,000. Bank of New York Mellon Corp grew its holdings in shares of Watsco by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 549,423 shares of the construction company’s stock worth $88,496,000 after acquiring an additional 3,692 shares during the period. Rhumbline Advisers grew its holdings in shares of Watsco by 19.2% during the 3rd quarter. Rhumbline Advisers now owns 81,113 shares of the construction company’s stock worth $13,065,000 after acquiring an additional 13,047 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Watsco by 42.4% during the 3rd quarter. New York State Common Retirement Fund now owns 122,500 shares of the construction company’s stock worth $19,731,000 after acquiring an additional 36,500 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Watsco during the 3rd quarter worth approximately $206,000. Institutional investors own 81.10% of the company’s stock.

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Watsco, Inc. (WSO) remained flat at $$164.19 during trading on Thursday. The company had a trading volume of 283,100 shares, compared to its average volume of 278,225. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21. The company has a market cap 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.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The company had revenue of $1.23 billion during 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. research analysts forecast that Watsco, Inc. will post 5.59 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.05%. Watsco’s payout ratio is currently 92.42%.

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub upgraded Watsco from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and set a $154.00 target price on shares of Watsco in a report on Thursday, September 7th. Finally, Robert W. Baird reiterated a “buy” rating and set a $163.00 target price on shares of Watsco in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $160.40.

Watsco 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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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