Holocene Advisors LP Raises Stock Holdings in Watsco, Inc. (NYSE:WSO)

Holocene Advisors LP boosted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 682.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,092 shares of the construction company's stock after purchasing an additional 3,569 shares during the period. Holocene Advisors LP's holdings in Watsco were worth $2,013,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Watsco during the second quarter worth $26,000. Tortoise Investment Management LLC lifted its position in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock worth $34,000 after acquiring an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter valued at about $43,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock valued at $46,000 after purchasing an additional 22 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Watsco in the third quarter worth about $48,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $491.25.

Watsco Stock Up 0.6 %

Shares of WSO traded up $3.11 during mid-day trading on Friday, reaching $526.81. The company had a trading volume of 167,656 shares, compared to its average volume of 191,006. The stock has a market capitalization of $21.27 billion, a P/E ratio of 40.71 and a beta of 0.92. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The stock has a 50 day moving average of $510.23 and a two-hundred day moving average of $489.84.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.35 EPS. On average, sell-side analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.05%. Watsco's dividend payout ratio is presently 83.46%.

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.