OMERS ADMINISTRATION Corp Invests $815,000 in Watsco, Inc. $WSO

OMERS ADMINISTRATION Corp acquired a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,955 shares of the construction company’s stock, valued at approximately $815,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Torren Management LLC bought a new stake in Watsco during the fourth quarter worth $26,000. Bayban bought a new stake in shares of Watsco in the 4th quarter valued at about $29,000. Bamco Inc. NY acquired a new stake in Watsco in the 4th quarter valued at about $35,000. Laurel Wealth Advisors LLC bought a new position in Watsco during the fourth quarter worth about $37,000. Finally, Quarry LP acquired a new position in Watsco during the fourth quarter worth approximately $37,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

NYSE:WSO opened at $313.60 on Friday. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 27.20 and a beta of 1.05. Watsco, Inc. has a fifty-two week low of $295.75 and a fifty-two week high of $459.00. The stock has a fifty day moving average price of $356.85 and a 200-day moving average price of $383.01.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). The company 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 firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 EPS. Research analysts predict that Watsco, Inc. will post 12.21 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 114.48%.

Analyst Ratings Changes

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

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.