9,259 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,259 shares of the construction company's stock, valued at approximately $4,554,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSO. EverSource Wealth Advisors LLC raised its holdings in Watsco by 256.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company's stock worth $1,510,000 after acquiring an additional 2,427 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of Watsco during the 2nd quarter worth approximately $2,109,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock valued at $1,582,000 after buying an additional 929 shares during the last quarter. Markel Group Inc. grew its stake in shares of Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock valued at $264,626,000 after buying an additional 5,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock worth $31,853,000 after buying an additional 1,074 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Up 0.0 %

Shares of WSO traded up $0.05 during trading hours on Wednesday, hitting $550.55. The company had a trading volume of 30,823 shares, compared to its average volume of 281,265. The business has a fifty day moving average of $501.60 and a 200-day moving average of $485.95. The firm has a market cap of $22.23 billion, a price-to-earnings ratio of 42.54 and a beta of 0.88. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $4.35 earnings per share. The firm's revenue was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal 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 paid a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.96%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Analysts Set New Price Targets

A number of brokerages have recently commented on WSO. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $491.25.

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.