AlphaQuest LLC Has $49,000 Stock Position in Watsco, Inc. (NYSE:WSO)

AlphaQuest LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 58.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 103 shares of the construction company’s stock after selling 146 shares during the period. AlphaQuest LLC’s holdings in Watsco were worth $49,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WSO. CIBC Asset Management Inc increased its stake in shares of Watsco by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company’s stock worth $1,025,000 after purchasing an additional 87 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Watsco by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 39,894 shares of the construction company’s stock worth $19,623,000 after buying an additional 215 shares during the period. Swiss National Bank boosted its holdings in shares of Watsco by 2.7% during the 3rd quarter. Swiss National Bank now owns 103,144 shares of the construction company’s stock worth $50,734,000 after buying an additional 2,700 shares during the period. Quest Partners LLC boosted its holdings in shares of Watsco by 329.3% during the 3rd quarter. Quest Partners LLC now owns 249 shares of the construction company’s stock worth $122,000 after buying an additional 191 shares during the period. Finally, Pathstone Holdings LLC boosted its holdings in shares of Watsco by 4.1% during the 3rd quarter. Pathstone Holdings LLC now owns 10,298 shares of the construction company’s stock worth $5,066,000 after buying an additional 409 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Down 1.0 %

Shares of Watsco stock opened at $502.84 on Friday. The stock has a market capitalization of $20.32 billion, a P/E ratio of 37.95 and a beta of 0.92. The company has a 50-day simple moving average of $492.81 and a 200 day simple moving average of $495.99. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WSO. Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $486.25.

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.