Bright Rock Capital Management LLC Takes $1.36 Million Position in Watsco Inc (WSO)
Bright Rock Capital Management LLC acquired a new stake in Watsco Inc (NYSE:WSO) in the fourth quarter, Holdings Channel reports. The firm acquired 8,000 shares of the construction company’s stock, valued at approximately $1,360,000.
A number of other institutional investors have also added to or reduced their stakes in WSO. San Francisco Sentry Investment Group CA purchased a new position in Watsco in the 2nd quarter valued at approximately $125,000. CIBC Asset Management Inc purchased a new position in shares of Watsco during the 3rd quarter valued at $206,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Watsco by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,340 shares of the construction company’s stock valued at $207,000 after purchasing an additional 166 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Watsco during the 3rd quarter valued at $207,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Watsco during the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
In other news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the transaction, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.93% of the company’s stock.
A number of research analysts have recently commented on WSO shares. Morgan Stanley boosted their price target on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research report on Thursday, October 26th. KeyCorp reiterated a “buy” rating on shares of Watsco in a research report on Friday, November 17th. Finally, Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $160.40.
Shares of Watsco Inc (WSO) traded down $1.37 during trading hours on Thursday, reaching $171.69. 180,700 shares of the company traded hands, compared to its average volume of 175,971. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.13 and a quick ratio of 1.42. The stock has a market capitalization of $6,140.00, a price-to-earnings ratio of 31.50 and a beta of 0.83. Watsco Inc has a one year low of $134.08 and a one year high of $174.84.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. equities analysts predict that Watsco Inc will post 5.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, January 12th. Watsco’s dividend payout ratio is presently 91.74%.
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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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