Xponance Inc. Has $2.38 Million Position in Watsco, Inc. (NYSE:WSO)

Xponance Inc. trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,128 shares of the construction company's stock after selling 1,035 shares during the period. Xponance Inc.'s holdings in Watsco were worth $2,375,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Motley Fool Asset Management LLC lifted its holdings in Watsco by 263.6% during the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company's stock worth $138,234,000 after acquiring an additional 231,987 shares in the last quarter. Swedbank AB acquired a new position in shares of Watsco in the 1st quarter valued at approximately $90,714,000. Vanguard Group Inc. increased its stake in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock worth $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Jennison Associates LLC raised its holdings in Watsco by 50.9% during the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company's stock worth $80,188,000 after buying an additional 62,593 shares during the period. Finally, Kodai Capital Management LP bought a new position in Watsco in the fourth quarter valued at approximately $17,925,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Watsco from $460.00 to $522.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $469.80.

Watsco Stock Down 0.9 %

Shares of WSO stock traded down $4.70 during trading on Friday, reaching $495.98. The company's stock had a trading volume of 142,927 shares, compared to its average volume of 295,234. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41. The business has a fifty day moving average price of $478.12 and a 200-day moving average price of $463.86. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 38.15 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts' consensus estimates of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company earned $4.42 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco's dividend payout ratio is currently 83.08%.

Watsco 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.