Squarepoint Ops LLC Invests $11.75 Million in Watsco, Inc. $WSO

Squarepoint Ops LLC acquired a new position in Watsco, Inc. (NYSE:WSO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,187 shares of the construction company’s stock, valued at approximately $11,746,000. Squarepoint Ops LLC owned about 0.07% of Watsco at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Bayban bought a new stake in shares of Watsco during the 4th quarter valued at $29,000. Bamco Inc. NY bought a new position in Watsco in the 4th quarter worth $35,000. Quarry LP bought a new position in Watsco in the 4th quarter worth $37,000. Western Wealth Management LLC bought a new position in Watsco in the 1st quarter worth $41,000. Finally, Versant Capital Management Inc lifted its position in Watsco by 293.3% during the second quarter. Versant Capital Management Inc now owns 118 shares of the construction company’s stock valued at $49,000 after purchasing an additional 88 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird set a $400.00 price target on Watsco in a report on Thursday, July 30th. DA Davidson decreased their price objective on Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. Morgan Stanley boosted their price objective on Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, Stephens reissued an “overweight” rating and issued a $485.00 target price on shares of Watsco in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $395.50.

Watsco Stock Down 1.9%

NYSE:WSO opened at $309.90 on Thursday. The business’s 50-day simple moving average is $340.26 and its two-hundred day simple moving average is $376.25. Watsco, Inc. has a 52 week low of $295.75 and a 52 week high of $459.00. The stock has a market cap of $12.78 billion, a PE ratio of 26.88 and a beta of 1.05.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.14 billion. Watsco had a return on equity of 14.40% and a net margin of 6.53%.The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $4.52 EPS. Sell-side analysts anticipate that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio is presently 114.48%.

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.