Quantinno Capital Management LP Sells 1,346 Shares of Watsco, Inc. (NYSE:WSO)

Posted by Defense World Staff on Jul 30th, 2023

Quantinno Capital Management LP lessened its stake in Watsco, Inc. (NYSE:WSO – Free Report) by 34.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,533 shares of the construction company’s stock after selling 1,346 shares during the period. Quantinno Capital Management LP’s holdings in Watsco were worth $806,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Redmond Asset Management LLC raised its position in Watsco by 0.3% in the 1st quarter. Redmond Asset Management LLC now owns 21,137 shares of the construction company’s stock worth $6,725,000 after purchasing an additional 66 shares during the last quarter. New Mexico Educational Retirement Board raised its position in Watsco by 15.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 6,000 shares of the construction company’s stock worth $1,909,000 after purchasing an additional 800 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its position in Watsco by 0.5% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 7,137 shares of the construction company’s stock worth $2,271,000 after purchasing an additional 34 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in Watsco in the 1st quarter worth approximately $390,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Watsco by 8.3% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 33,721 shares of the construction company’s stock worth $10,729,000 after acquiring an additional 2,587 shares during the period. Institutional investors own 87.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stephens lifted their target price on shares of Watsco from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. Loop Capital lifted their target price on shares of Watsco from $315.00 to $335.00 in a report on Monday, April 24th. KeyCorp lifted their target price on shares of Watsco from $365.00 to $380.00 and gave the stock an “overweight” rating in a report on Friday, April 21st. Mizuho assumed coverage on shares of Watsco in a report on Monday, July 24th. They set a “neutral” rating and a $360.00 target price for the company. Finally, StockNews.com assumed coverage on shares of Watsco in a report on Thursday, May 18th. They set a “hold” rating for the company. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $354.88.

Watsco Price Performance

Shares of WSO stock opened at $376.41 on Friday. Watsco, Inc. has a 12-month low of $228.61 and a 12-month high of $383.83. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 24.54 and a beta of 0.94. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $358.54 and a 200-day moving average of $326.06.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, July 14th. Watsco’s dividend payout ratio (DPR) is 63.89%.

Watsco Company Profile

(Free Report)

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.