Rhumbline Advisers Has $47.08 Million Stock Holdings in Watsco, Inc. $WSO

Rhumbline Advisers lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,610 shares of the construction company’s stock after purchasing an additional 765 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Watsco worth $47,081,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. WPG Advisers LLC bought a new stake in Watsco in the first quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of Watsco in the second quarter worth about $26,000. TCTC Holdings LLC boosted its stake in shares of Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Watsco by 242.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Watsco during the 2nd quarter valued at about $34,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 1.5%

Shares of NYSE WSO opened at $331.64 on Tuesday. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $571.41. The company has a market cap of $13.45 billion, a P/E ratio of 25.91 and a beta of 0.93. The business’s 50 day moving average is $370.46 and its two-hundred day moving average is $415.70.

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

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were issued a dividend of $3.00 per share. The ex-dividend date was Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.6%. Watsco’s payout ratio is presently 93.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. UBS Group dropped their price target on shares of Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. William Blair reaffirmed a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.