Victory Capital Management Inc. Trims Stock Position in Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. reduced its stake in shares of Watsco, Inc. (NYSE:WSOGet Rating) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,897 shares of the construction company’s stock after selling 7,370 shares during the quarter. Victory Capital Management Inc. owned approximately 0.40% of Watsco worth $39,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new stake in shares of Watsco in the 3rd quarter worth about $736,000. Oregon Public Employees Retirement Fund grew its position in Watsco by 1.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 9,682 shares of the construction company’s stock valued at $2,493,000 after purchasing an additional 146 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Watsco by 11.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 24,229 shares of the construction company’s stock valued at $6,238,000 after purchasing an additional 2,433 shares during the last quarter. BHK Investment Advisors LLC purchased a new stake in Watsco during the 3rd quarter valued at about $245,000. Finally, Atria Investments LLC grew its position in Watsco by 34.8% during the 3rd quarter. Atria Investments LLC now owns 9,941 shares of the construction company’s stock valued at $2,560,000 after purchasing an additional 2,565 shares during the last quarter. 84.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WSO. UBS Group began coverage on shares of Watsco in a research report on Tuesday, January 10th. They set a “neutral” rating and a $280.00 price objective on the stock. StockNews.com began coverage on shares of Watsco in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Watsco from $284.00 to $294.00 in a research report on Monday, October 24th. Finally, Morgan Stanley upped their target price on shares of Watsco from $217.00 to $218.00 and gave the company an “underweight” rating in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $294.17.

Watsco Price Performance

WSO opened at $270.95 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 2.57. The stock has a market capitalization of $10.50 billion, a P/E ratio of 19.52 and a beta of 0.89. The company’s 50-day simple moving average is $264.97 and its two-hundred day simple moving average is $267.32. Watsco, Inc. has a 52-week low of $220.68 and a 52-week high of $311.86.

Watsco (NYSE:WSOGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.39 by ($0.36). Watsco had a return on equity of 25.19% and a net margin of 7.53%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.03 billion. As a group, analysts predict that Watsco, Inc. will post 14.02 EPS for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 17th will be paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, January 13th. This is a boost from Watsco’s previous quarterly dividend of $2.20. Watsco’s dividend payout ratio is 70.61%.

About Watsco

(Get Rating)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

See Also

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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