The fund owned 52,054 shares of the construction company's stock after buying an additional 16,008 shares during the period. Monarch Partners Asset Management LLC owned 0.25% of Watsco worth $12,804,000 as of its most recent filing with the SEC.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Partners LLC increased its position in Watsco by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company's stock valued at $351,379,000 after buying an additional 517,615 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Watsco by 300.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company's stock worth $168,000 after buying an additional 343 shares during the period. Private Trust Co. NA purchased a new stake in shares of Watsco during the first quarter worth $463,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Watsco by 41.3% in the first quarter. For the next financial year, analysts anticipate that the company will report earnings of $6.29 per share, with EPS estimates ranging from $5.90 to $6.75. Parametric Portfolio Associates LLC increased its stake in shares of Watsco by 107.5% in the second quarter. The institutional investor owned 27,875 shares of the construction company's stock after buying an additional 250 shares during the period.
Wall Street brokerages expect that Watsco, Inc. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55.
It is now trading at $147.47 just a bit lower than the 50 day moving average of $151.96 and just above the 200 day moving average of $147.09.
Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The business's quarterly revenue was up 5.1% compared to the same quarter past year. In the last earnings report the EPS was $5.41 and is expected to be $5.78 for the current year with 32,682,000 shares presently outstanding.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, July 13th. The dividend yield was $3.34. This is an increase from Watsco's previous quarterly dividend of $1.05.
Russell Investments Group Ltd. reduced its position in Watsco, Inc. "(NYSE:WSO) Position Increased by Retirement Systems of Alabama" was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. The legal version of this article can be read at https://weekherald.com/2017/08/10/1525-shares-in-watsco-inc-nysewso-acquired-by-oakbrook-investments-llc-updated.html.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Watsco from a "hold" rating to a "sell" rating in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Seaport Global Securities raised Watsco from a "neutral" rating to a "buy" rating and lifted their target price for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. Finally, Wolfe Research started coverage on Watsco in a research report on Tuesday, July 11th. They now have a United States dollars 30 price target on the stock. Morgan Stanley restated an "underweight" rating and issued a $141.00 target price (up previously from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. The consensus target price is $137.91 with 4 firms rating the stock a strong buy, 1 firm rating the stock a buy, 8 firms rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America.