Quantinno Capital Management LP Raises Stock Holdings in Watsco, Inc. $WSO

Quantinno Capital Management LP grew its holdings in Watsco, Inc. (NYSE:WSO) by 61.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,306 shares of the construction company’s stock after buying an additional 8,881 shares during the quarter. Quantinno Capital Management LP’s holdings in Watsco were worth $8,479,000 as of its most recent SEC filing.

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

Watsco Stock Performance

Shares of Watsco stock opened at $334.27 on Wednesday. Watsco, Inc. has a one year low of $300.66 and a one year high of $459.00. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 28.99 and a beta of 1.05. The business’s 50 day moving average price is $377.41 and its 200 day moving average price is $391.80.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company earned $4.52 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Watsco, Inc. will post 12.55 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were issued a $3.30 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.9%. Watsco’s dividend payout ratio is currently 114.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WSO shares. Morgan Stanley raised their price target on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a report on Friday, June 26th. DA Davidson decreased their target price on Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $400.00 price target on Watsco in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $395.50.

Watsco Company Profile

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.