Quantinno Capital Management LP Purchases 2,316 Shares of Watsco, Inc. (NYSE:WSO)

Quantinno Capital Management LP lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 59.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,221 shares of the construction company’s stock after acquiring an additional 2,316 shares during the quarter. Quantinno Capital Management LP’s holdings in Watsco were worth $3,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Watsco during the second quarter valued at about $26,000. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new stake in Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV increased its position in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Watsco during the third quarter valued at $48,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Stock Performance

Shares of NYSE WSO opened at $522.37 on Tuesday. The company’s 50 day moving average price is $510.84 and its 200-day moving average price is $490.19. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company has a market capitalization of $21.09 billion, a P/E ratio of 40.37 and a beta of 0.92.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company posted $4.35 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s payout ratio is currently 83.46%.

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.