SG Americas Securities LLC Boosts Stock Holdings in Watsco, Inc. $WSO

SG Americas Securities LLC increased its position in Watsco, Inc. (NYSE:WSO) by 357.3% in the third quarter, Holdings Channel.com reports. The fund owned 10,559 shares of the construction company’s stock after purchasing an additional 8,250 shares during the period. SG Americas Securities LLC’s holdings in Watsco were worth $4,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in Watsco during the 2nd quarter valued at $26,000. SJS Investment Consulting Inc. raised its stake in shares of Watsco by 2,366.7% in the third quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Watsco by 242.9% during the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of Watsco during the second quarter valued at $34,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Watsco during the third quarter valued at $37,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Up 4.1%

Watsco stock opened at $375.39 on Monday. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $535.40. The company has a market cap of $15.23 billion, a P/E ratio of 29.33 and a beta of 1.03. The business has a 50-day simple moving average of $347.31 and a two-hundred day simple moving average of $391.35.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The company had revenue of $2.07 billion for the quarter. Research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, January 16th. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. KeyCorp reiterated a “sector weight” rating on shares of Watsco in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. Wolfe Research set a $349.00 price objective on shares of Watsco in a research report on Tuesday, December 9th. Finally, UBS Group initiated coverage on shares of Watsco in a report on Monday, January 5th. They issued a “neutral” rating and a $370.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $415.57.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.