Watsco, Inc. $WSO Shares Acquired by Y Intercept Hong Kong Ltd

by · The Cerbat Gem

Y Intercept Hong Kong Ltd grew its position in Watsco, Inc. (NYSE:WSO – Free Report) by 75.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 983 shares of the construction company’s stock after buying an additional 424 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Watsco were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WPG Advisers LLC purchased a new position in Watsco during the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Watsco in the second quarter valued at about $26,000. TCTC Holdings LLC grew its position in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Chilton Capital Management LLC purchased a new position in shares of Watsco during the 2nd quarter worth approximately $34,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Watsco during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WSO shares. Zacks Research cut Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price objective on Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley dropped their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Mizuho reduced their target price on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Watsco currently has an average rating of “Hold” and an average target price of $435.00.

Check Out Our Latest Analysis on Watsco

Watsco Trading Up 0.2%

NYSE WSO opened at $351.96 on Friday. The business’s 50-day moving average price is $382.83 and its 200 day moving average price is $425.98. Watsco, Inc. has a twelve month low of $344.52 and a twelve month high of $571.41. The company has a market capitalization of $14.27 billion, a PE ratio of 27.50 and a beta of 0.93.

Watsco (NYSE:WSO – Get Free Report) last posted its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The company had revenue of $2.07 billion during the quarter. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is 93.75%.

Watsco Company Profile

(Free Report)

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.

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