BNP Paribas Financial Markets Increases Position in Watsco, Inc. (NYSE:WSO)

BNP Paribas Financial Markets lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 32.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 20,585 shares of the construction company's stock after acquiring an additional 5,034 shares during the period. BNP Paribas Financial Markets owned approximately 0.05% of Watsco worth $10,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after buying an additional 62,041 shares in the last quarter. Blair William & Co. IL lifted its position in Watsco by 1.2% in 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. boosted its stake in Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after buying an additional 11,250 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Watsco by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock valued at $182,068,000 after acquiring an additional 6,320 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. 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 research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $491.25.

Watsco Trading Down 1.5 %

WSO stock traded down $8.43 during midday trading on Monday, hitting $543.17. The company's stock had a trading volume of 212,638 shares, compared to its average volume of 280,963. The company has a market cap of $21.93 billion, a PE ratio of 42.66 and a beta of 0.92. The firm's 50-day moving average is $506.47 and its 200-day moving average is $487.96. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS 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 for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter last year, the company posted $4.35 EPS. The firm's revenue was up 1.6% compared to the same quarter last year. Analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.99%. Watsco's payout ratio is presently 83.46%.

Watsco Company 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.