6,000 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 6,000 shares of the construction company’s stock, valued at approximately $2,951,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of WSO. Tidal Investments LLC purchased a new stake in shares of Watsco during the first quarter worth $214,000. Cetera Investment Advisers increased its holdings in Watsco by 209.4% during the 1st quarter. Cetera Investment Advisers now owns 8,379 shares of the construction company’s stock worth $3,619,000 after purchasing an additional 5,671 shares during the period. Mather Group LLC. raised its position in Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Watsco by 20.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,018 shares of the construction company’s stock valued at $472,000 after buying an additional 173 shares during the period. Finally, Gateway Investment Advisers LLC acquired a new position in shares of Watsco during the second quarter worth about $2,109,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Trading Down 2.6 %

Shares of NYSE:WSO opened at $523.59 on Friday. The firm has a 50 day simple moving average of $509.16 and a 200-day simple moving average of $489.27. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The company has a market capitalization of $21.14 billion, a PE ratio of 40.46 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $4.35 earnings per share. As a group, equities research analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.06%. Watsco’s dividend payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

WSO has been the subject of several analyst reports. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $491.25.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. 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.