Quantbot Technologies LP Makes New $4.55 Million Investment in Watsco, Inc. (NYSE:WSO)

Quantbot Technologies LP bought a new stake in shares of Watsco, Inc. (NYSE:WSO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,259 shares of the construction company’s stock, valued at approximately $4,554,000.

Several other large investors also recently modified their holdings of the stock. FMR LLC lifted its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after acquiring an additional 62,041 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Watsco by 1.2% in the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock valued at $371,126,000 after purchasing an additional 9,141 shares during the last quarter. Markel Group Inc. lifted its position in shares of Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after buying an additional 11,250 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock valued at $182,068,000 after buying an additional 6,320 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Watsco Price Performance

WSO opened at $550.50 on Wednesday. The company’s 50 day moving average price is $501.60 and its two-hundred day moving average price is $485.95. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 42.54 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly 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). 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 quarter last year, the firm posted $4.35 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.96%. Watsco’s dividend payout ratio (DPR) is currently 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.