Cigna Investments Inc. New Has $345,000 Position in Watsco, Inc. (WSO)
Cigna Investments Inc. New decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,236 shares of the construction company’s stock after selling 106 shares during the period. Cigna Investments Inc. New’s holdings in Watsco were worth $345,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Quadrant L P CA purchased a new stake in Watsco during the first quarter worth $5,806,000. Glen Harbor Capital Management LLC raised its stake in Watsco by 9.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,344 shares of the construction company’s stock worth $192,000 after buying an additional 112 shares in the last quarter. Sit Investment Associates Inc. raised its stake in Watsco by 351.9% in the first quarter. Sit Investment Associates Inc. now owns 3,050 shares of the construction company’s stock worth $437,000 after buying an additional 2,375 shares in the last quarter. ProShare Advisors LLC raised its stake in Watsco by 2.8% in the first quarter. ProShare Advisors LLC now owns 2,728 shares of the construction company’s stock worth $391,000 after buying an additional 75 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Watsco by 4.1% in the first quarter. Profund Advisors LLC now owns 4,723 shares of the construction company’s stock worth $676,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 79.58% of the company’s stock.
Shares of Watsco, Inc. (WSO) opened at 145.26 on Friday. Watsco, Inc. has a 52 week low of $128.60 and a 52 week high of $159.55. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.86 and a beta of 0.83. The stock has a 50 day moving average of $150.90 and a 200-day moving average of $146.83.
Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. On average, analysts anticipate that Watsco, Inc. will post $5.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were given a $1.25 dividend. This is a positive change from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, July 13th. Watsco’s dividend payout ratio (DPR) is presently 93.11%.
A number of research firms have weighed in on WSO. Stifel Nicolaus restated a “buy” rating and set a $176.00 price objective (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. BidaskClub upgraded shares of Watsco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price objective for the company in a research note on Tuesday, June 27th. Wolfe Research began coverage on shares of Watsco in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Morgan Stanley restated an “underweight” rating and set a $141.00 price objective (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $163.20.
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. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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