AQR Capital Management LLC Has $7.02 Million Stake in Watsco, Inc. (NYSE:WSO)

AQR Capital Management LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 16.8% in the 2nd quarter, Holdings Channel reports. The firm owned 15,150 shares of the construction company’s stock after selling 3,055 shares during the period. AQR Capital Management LLC’s holdings in Watsco were worth $7,018,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC lifted its stake in shares of Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after buying an additional 231,987 shares during the last quarter. Swedbank AB acquired a new position in Watsco during the 1st quarter worth $90,714,000. Vanguard Group Inc. boosted its holdings in Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after acquiring an additional 146,305 shares during the period. Jennison Associates LLC grew its position in shares of Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after purchasing an additional 62,593 shares during the last quarter. Finally, Norden Group LLC increased its stake in shares of Watsco by 2,109.5% in the first quarter. Norden Group LLC now owns 33,120 shares of the construction company’s stock worth $14,309,000 after purchasing an additional 31,621 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $484.10 on Friday. The firm has a market capitalization of $19.51 billion, a PE ratio of 37.24 and a beta of 0.88. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The business’s 50 day moving average is $478.06 and its 200-day moving average is $466.94.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the firm earned $4.42 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WSO. Robert W. Baird raised their target price on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $469.80.

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.