Versor Investments LP Takes Position in Watsco, Inc. (NYSE:WSO)

Versor Investments LP bought a new position in Watsco, Inc. (NYSE:WSO - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 2,000 shares of the construction company's stock, valued at approximately $984,000.

Several other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in Watsco by 256.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company's stock worth $1,510,000 after purchasing an additional 2,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Watsco during the 1st quarter valued at approximately $491,000. Gateway Investment Advisers LLC purchased a new position in Watsco in the 2nd quarter valued at $2,109,000. Vanguard Group Inc. increased its stake in shares of Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock worth $1,473,836,000 after acquiring an additional 146,305 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Watsco by 6.2% during the first quarter. William Blair Investment Management LLC now owns 66,966 shares of the construction company's stock valued at $28,927,000 after acquiring an additional 3,881 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of Watsco stock traded down $3.50 on Tuesday, hitting $533.36. The company had a trading volume of 216,547 shares, compared to its average volume of 285,097. The business has a 50-day simple moving average of $486.19 and a 200-day simple moving average of $480.35. The company has a market cap of $21.54 billion, a PE ratio of 41.49 and a beta of 0.88. Watsco, Inc. has a 52 week low of $372.63 and a 52 week high of $540.23.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS 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 firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter last year, the company posted $4.35 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Watsco, Inc. will post 13.2 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, October 16th. Watsco's payout ratio is 83.46%.

Analysts Set New Price Targets

A number of brokerages recently commented on WSO. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th.

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.