Symmetry Partners LLC Purchases 215 Shares of Watsco, Inc. (NYSE:WSO)

Symmetry Partners LLC raised its position in shares of Watsco, Inc. (NYSE:WSO) by 16.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,488 shares of the construction company’s stock after purchasing an additional 215 shares during the quarter. Symmetry Partners LLC’s holdings in Watsco were worth $568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Watsco by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,325,958 shares of the construction company’s stock worth $1,013,220,000 after acquiring an additional 14,122 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Watsco by 2.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,670,785 shares of the construction company’s stock worth $531,577,000 after acquiring an additional 32,734 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Watsco by 105,561.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,494,050 shares of the construction company’s stock worth $372,616,000 after acquiring an additional 1,492,636 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Watsco by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,363,408 shares of the construction company’s stock worth $329,403,000 after acquiring an additional 81,649 shares during the period. Finally, FMR LLC grew its stake in shares of Watsco by 15.6% in the first quarter. FMR LLC now owns 1,337,398 shares of the construction company’s stock worth $425,507,000 after acquiring an additional 180,247 shares during the period. 89.49% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $355.68 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 1.25. Watsco, Inc. has a 1-year low of $228.61 and a 1-year high of $383.83. The company has a market capitalization of $13.90 billion, a P/E ratio of 23.98, a P/E/G ratio of 4.40 and a beta of 0.95. The firm’s 50 day simple moving average is $360.65 and its two-hundred day simple moving average is $341.39.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $4.42 earnings per share for the quarter, missing the consensus estimate of $4.87 by ($0.45). Watsco had a net margin of 8.06% and a return on equity of 22.94%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm earned $4.93 EPS. Watsco’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that Watsco, Inc. will post 14.2 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Friday, July 14th. Watsco’s dividend payout ratio is currently 66.08%.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Watsco from $375.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. UBS Group raised their price objective on shares of Watsco from $280.00 to $340.00 in a report on Tuesday, May 23rd. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Watsco in a report on Monday, August 28th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $305.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Finally, StockNews.com began coverage on shares of Watsco in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Watsco has an average rating of “Hold” and a consensus price target of $364.00.

Watsco Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.