Watsco, Inc. (NYSE:WSO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 66.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,162 shares of the construction company's stock after selling 21,810 shares during the period. Bank of Montreal Can's holdings in Watsco were worth $5,536,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. Blair William & Co. IL lifted its position in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock worth $371,126,000 after buying an additional 9,141 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock valued at $286,520,000 after purchasing an additional 11,250 shares during the last quarter. Bank of New York Mellon Corp grew its position in Watsco by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock worth $182,068,000 after acquiring an additional 6,320 shares during the last quarter. Finally, Hamlin Capital Management LLC lifted its holdings in shares of Watsco by 7.4% during the third quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company's stock worth $154,717,000 after purchasing an additional 21,649 shares during the period. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Watsco presently has an average rating of "Moderate Buy" and a consensus target price of $491.25.

Watsco Trading Down 1.0 %

WSO traded down $5.49 during trading hours on Wednesday, hitting $537.50. The company's stock had a trading volume of 123,268 shares, compared to its average volume of 279,717. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The stock has a market cap of $21.71 billion, a price-to-earnings ratio of 41.98 and a beta of 0.92. The business's 50-day moving average price is $508.38 and its 200-day moving average price is $488.93.

Watsco (NYSE:WSO - Get Free Report) last released 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $4.35 earnings per share. The firm's quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.01%. Watsco's payout ratio is 83.46%.

Watsco Profile

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.