Watsco, Inc. (WSO) Position Raised by Stifel Financial Corp
Stifel Financial Corp boosted its stake in Watsco, Inc. (NYSE:WSO) by 114.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,696 shares of the construction company’s stock after purchasing an additional 5,710 shares during the quarter. Stifel Financial Corp’s holdings in Watsco were worth $1,644,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after purchasing an additional 2,610,583 shares during the last quarter. Vanguard Group Inc. grew its stake in Watsco by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock valued at $383,810,000 after acquiring an additional 34,943 shares during the period. FMR LLC grew its stake in Watsco by 10.7% in the second quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock valued at $157,826,000 after acquiring an additional 99,041 shares during the period. Ameriprise Financial Inc. grew its stake in Watsco by 54.7% in the second quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock valued at $134,994,000 after acquiring an additional 309,675 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in Watsco by 198.9% in the second quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after acquiring an additional 501,450 shares during the period. Institutional investors and hedge funds own 81.63% of the company’s stock.
A number of research analysts have issued reports on WSO shares. Stifel Nicolaus reissued a “buy” rating and issued a $154.00 target price on shares of Watsco in a research note on Thursday, September 7th. Morgan Stanley boosted their target price on Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. BidaskClub cut Watsco from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research note on Tuesday, August 1st. Finally, Robert W. Baird reissued a “buy” rating and issued a $163.00 target price on shares of Watsco in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $159.40.
Watsco, Inc. (NYSE WSO) opened at 159.84 on Wednesday. The firm has a market capitalization of $5.22 billion, a PE ratio of 29.56 and a beta of 0.84. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $163.95. The firm has a 50-day moving average price of $155.52 and a 200-day moving average price of $148.01.
Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $1.82 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post $5.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, October 13th. Watsco’s payout ratio is 93.11%.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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