Y Intercept Hong Kong Ltd Grows Position in Watsco, Inc. $WSO

Y Intercept Hong Kong Ltd lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 75.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 983 shares of the construction company’s stock after purchasing an additional 424 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Watsco were worth $434,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC purchased a new stake in Watsco during the first quarter worth approximately $266,000. Brown Advisory Inc. lifted its holdings in shares of Watsco by 129.3% during the 1st quarter. Brown Advisory Inc. now owns 7,722 shares of the construction company’s stock valued at $3,925,000 after acquiring an additional 4,355 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Watsco by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock worth $537,000 after purchasing an additional 24 shares during the period. Allworth Financial LP increased its holdings in Watsco by 17.6% in the 1st quarter. Allworth Financial LP now owns 320 shares of the construction company’s stock valued at $163,000 after purchasing an additional 48 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Watsco by 1.2% in the 1st quarter. Cerity Partners LLC now owns 8,683 shares of the construction company’s stock valued at $4,414,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 0.2%

Shares of WSO opened at $351.96 on Friday. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 27.50 and a beta of 0.93. The business’s 50 day moving average is $382.83 and its two-hundred day moving average is $425.98. Watsco, Inc. has a 52-week low of $344.52 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The business had revenue of $2.07 billion during the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. On average, equities analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.4%. Watsco’s payout ratio is presently 93.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WSO. JPMorgan Chase & Co. decreased their target price on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Mizuho decreased their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley decreased their target price on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus target price of $435.00.

Watsco Company 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.