Watsco, Inc. (NYSE:WSO) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 45.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,875 shares of the construction company's stock after selling 4,855 shares during the period. Intech Investment Management LLC's holdings in Watsco were worth $2,890,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WSO. O Shaughnessy Asset Management LLC raised its position in Watsco by 32.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,633 shares of the construction company's stock worth $705,000 after purchasing an additional 401 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Watsco by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the construction company's stock valued at $216,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Watsco by 159.0% in the first quarter. Bessemer Group Inc. now owns 202 shares of the construction company's stock valued at $87,000 after acquiring an additional 124 shares during the period. EntryPoint Capital LLC raised its holdings in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company's stock worth $25,000 after purchasing an additional 29 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Watsco by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 131,149 shares of the construction company's stock worth $56,653,000 after purchasing an additional 443 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 1.6 %

Shares of Watsco stock traded up $8.55 during trading hours on Friday, reaching $554.79. 161,365 shares of the company's stock were exchanged, compared to its average volume of 183,945. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $555.42. The company has a market capitalization of $22.40 billion, a P/E ratio of 42.87 and a beta of 0.88. The business has a fifty day moving average of $499.99 and a two-hundred day moving average of $485.27.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion for 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%. Watsco's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $4.35 earnings per share. As a group, research analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio is presently 83.46%.

Analysts Set New Price Targets

Several research firms recently commented on WSO. JPMorgan Chase & Co. lifted their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Northcoast Research initiated coverage on shares of Watsco in a research note on Friday. They set a "neutral" rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $491.25.

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.