Brown Brothers Harriman & Co. Has $58.42 Million Stake in Watsco, Inc. (NYSE:WSO)

Brown Brothers Harriman & Co. grew its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 29.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,763 shares of the construction company's stock after buying an additional 27,215 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.29% of Watsco worth $58,417,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $616,357,000 after purchasing an additional 62,041 shares during the last quarter. Blair William & Co. IL raised its holdings 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 acquiring an additional 9,141 shares during the period. Markel Group Inc. lifted its position in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after acquiring an additional 11,250 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 period. Finally, Hamlin Capital Management LLC grew its position in shares of Watsco by 7.4% in the third quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company's stock valued at $154,717,000 after purchasing an additional 21,649 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a research report on Friday. They issued a "neutral" rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Watsco presently has a consensus rating of "Moderate Buy" and a consensus price target of $491.25.

Watsco Stock Performance

Shares of NYSE:WSO traded up $13.72 during trading on Monday, hitting $568.51. 480,529 shares of the stock were exchanged, compared to its average volume of 282,354. The company's fifty day simple moving average is $499.99 and its 200-day simple moving average is $485.27. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 43.96 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.35 EPS. On average, research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's payout ratio is currently 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.