Vident Investment Advisory LLC lifted its position in shares of Watsco Inc (NYSE:WSO) by 51.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,331 shares of the construction company’s stock after buying an additional 5,186 shares during the period. Vident Investment Advisory LLC’s holdings in Watsco were worth $2,733,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ostrum Asset Management bought a new position in shares of Watsco during the first quarter worth about $100,000. Ontario Teachers Pension Plan Board bought a new position in shares of Watsco during the second quarter worth about $241,000. Stevens Capital Management LP bought a new position in shares of Watsco during the second quarter worth about $242,000. Financial Gravity Wealth Inc. bought a new position in shares of Watsco during the first quarter worth about $261,000. Finally, Naples Global Advisors LLC bought a new position in shares of Watsco during the second quarter worth about $272,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.
WSO opened at $171.99 on Tuesday. The company has a market cap of $6.66 billion, a PE ratio of 31.36 and a beta of 0.71. The company has a current ratio of 3.10, a quick ratio of 1.43 and a debt-to-equity ratio of 0.09. Watsco Inc has a twelve month low of $155.57 and a twelve month high of $192.94.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.37%. Watsco’s dividend payout ratio (DPR) is presently 105.84%.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of Watsco from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Robert W. Baird cut shares of Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research report on Tuesday, July 3rd. Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Longbow Research cut shares of Watsco from a “buy” rating to a “neutral” rating in a report on Monday, July 30th. Finally, JPMorgan Chase & Co. cut shares of Watsco from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $166.00 to $176.00 in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $184.00.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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