Delta Global Management LP Has $999,000 Position in Watsco, Inc. $WSO

Delta Global Management LP lowered its holdings in shares of Watsco, Inc. (NYSE:WSO) by 61.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745 shares of the construction company’s stock after selling 4,432 shares during the quarter. Delta Global Management LP’s holdings in Watsco were worth $999,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WSO. Torren Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at approximately $26,000. Bayban acquired a new stake in Watsco during the 4th quarter worth approximately $29,000. Bamco Inc. NY acquired a new stake in Watsco during the 4th quarter worth approximately $35,000. Laurel Wealth Advisors LLC bought a new position in Watsco in the fourth quarter valued at approximately $37,000. Finally, Quarry LP bought a new position in Watsco in the fourth quarter valued at approximately $37,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Watsco in a research report on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price objective for the company. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Morgan Stanley boosted their price objective on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. Finally, Stephens increased their target price on Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and a consensus target price of $402.71.

Watsco Stock Performance

Shares of Watsco stock opened at $362.43 on Monday. The firm has a market cap of $14.74 billion, a PE ratio of 30.08 and a beta of 1.02. The business’s 50 day simple moving average is $384.38 and its 200 day simple moving average is $393.49. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $493.66.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, equities research analysts predict that Watsco, Inc. will post 12.9 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 16th will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, July 16th. Watsco’s payout ratio is currently 109.54%.

About Watsco

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.