Worldquant Millennium Advisors LLC Has $9.02 Million Stake in Watsco, Inc. (NYSE:WSO)

Worldquant Millennium Advisors LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 26.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,331 shares of the construction company's stock after selling 6,508 shares during the period. Worldquant Millennium Advisors LLC's holdings in Watsco were worth $9,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Watsco in the second quarter valued at approximately $26,000. Tortoise Investment Management LLC boosted its position in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock worth $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the third quarter worth $43,000. Massmutual Trust Co. FSB ADV increased its holdings in 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 last quarter. Finally, Brooklyn Investment Group acquired a new position in Watsco in the third quarter valued at about $48,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WSO shares. 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. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a "neutral" rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of "Moderate Buy" and an average target price of $491.25.

Watsco Stock Performance

NYSE:WSO traded up $3.11 on Friday, reaching $526.81. The company's stock had a trading volume of 167,656 shares, compared to its average volume of 188,328. The business's 50-day moving average price is $510.23 and its two-hundred day moving average price is $489.84. The firm has a market cap of $21.27 billion, a PE ratio of 40.71 and a beta of 0.92. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

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

Watsco Announces Dividend

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

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.