Watsco, Inc. $WSO Stock Holdings Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Watsco, Inc. (NYSE:WSO) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,400 shares of the construction company’s stock after selling 88,880 shares during the period. Renaissance Technologies LLC’s holdings in Watsco were worth $78,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WSO. Torren Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $26,000. Bayban acquired a new position in shares of Watsco during the fourth quarter worth approximately $29,000. Bamco Inc. NY bought a new position in Watsco in the 4th quarter worth approximately $35,000. Laurel Wealth Advisors LLC acquired a new stake in Watsco in the 4th quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in Watsco in the 4th quarter valued at approximately $37,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO opened at $362.43 on Friday. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 30.08 and a beta of 1.02. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $493.66. The company has a 50 day moving average price of $384.38 and a 200 day moving average price of $393.21.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company posted $1.93 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts expect that Watsco, Inc. will post 12.9 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be paid a $3.30 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $13.20 dividend on an annualized basis and a yield of 3.6%. Watsco’s dividend payout ratio (DPR) is currently 109.54%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WSO. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. Morgan Stanley upped their price objective on shares of Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Stephens upped their price target on shares of Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, DA Davidson initiated coverage on shares of Watsco in a research note on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $402.71.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.