13,753 Shares in Watsco, Inc. $WSO Bought by Nykredit A S

Nykredit A S acquired a new position in Watsco, Inc. (NYSE:WSO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,753 shares of the construction company’s stock, valued at approximately $5,731,000.

A number of other hedge funds have also recently added to or reduced their stakes in WSO. Empowered Funds LLC raised its holdings in shares of Watsco by 4.1% during the first quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock worth $3,013,000 after purchasing an additional 232 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Watsco by 95.0% in the 2nd quarter. Bank of Nova Scotia now owns 1,297 shares of the construction company’s stock valued at $573,000 after buying an additional 632 shares during the period. Sei Investments Co. grew its position in shares of Watsco by 7.6% during the 2nd quarter. Sei Investments Co. now owns 50,442 shares of the construction company’s stock valued at $22,275,000 after buying an additional 3,570 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Watsco by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 16,258 shares of the construction company’s stock valued at $7,180,000 after buying an additional 437 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Watsco by 12.0% during the 2nd quarter. Diversify Advisory Services LLC now owns 523 shares of the construction company’s stock valued at $221,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a report on Friday, June 26th. Robert W. Baird set a $400.00 price target on Watsco in a research report on Thursday, July 30th. DA Davidson cut their price target on Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Morgan Stanley raised their price target on Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Finally, Stephens restated an “overweight” rating and set a $485.00 price objective on shares of Watsco in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $395.50.

Watsco Stock Down 0.2%

Watsco stock opened at $314.52 on Monday. The firm has a 50-day moving average price of $346.18 and a two-hundred day moving average price of $378.45. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 27.28 and a beta of 1.05. Watsco, Inc. has a 52-week low of $295.75 and a 52-week high of $459.00.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.41). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. Watsco had a net margin of 6.53% and a return on equity of 14.40%. Watsco’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 EPS. Research analysts expect that Watsco, Inc. will post 12.21 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 114.48%.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.