Intech Investment Management LLC Has $4.97 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Intech Investment Management LLC raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 495.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,730 shares of the construction company’s stock after acquiring an additional 8,927 shares during the period. Intech Investment Management LLC’s holdings in Watsco were worth $4,971,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Shaker Investments LLC OH increased its holdings in Watsco by 0.3% in the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 24 shares during the last quarter. Mather Group LLC. increased its stake in shares of Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after acquiring an additional 27 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the period. Salomon & Ludwin LLC grew its holdings in Watsco by 52.6% during the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares during the period. Finally, Trueblood Wealth Management LLC increased its stake in Watsco by 0.9% in the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus target price of $447.67.

Watsco Trading Down 2.1 %

WSO opened at $489.61 on Friday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 37.66 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 12 month low of $338.58 and a 12 month high of $520.41. The firm’s fifty day simple moving average is $478.69 and its 200 day simple moving average is $461.57.

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

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.21%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

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.