Watsco, Inc. (NYSE:WSO) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in Watsco, Inc. (NYSE:WSO) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,558 shares of the construction company’s stock after purchasing an additional 337 shares during the period. Quantinno Capital Management LP’s holdings in Watsco were worth $3,108,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the fourth quarter worth $36,000. Atala Financial Inc acquired a new position in Watsco during the fourth quarter worth $49,000. Golden State Wealth Management LLC purchased a new stake in Watsco during the fourth quarter worth $50,000. Finally, Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WSO. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. UBS Group reduced their price objective on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird reduced their price objective on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Loop Capital upped their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Finally, StockNews.com upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $480.83.

Watsco Trading Down 0.8%

NYSE WSO opened at $488.06 on Tuesday. The business’s 50-day moving average price is $489.46 and its 200 day moving average price is $497.58. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The company has a market capitalization of $19.72 billion, a PE ratio of 36.83 and a beta of 1.11.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $2.17 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a yield of 2.46%. Watsco’s dividend payout ratio is currently 92.24%.

About Watsco

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.