Cerity Partners LLC Has $5.23 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Cerity Partners LLC grew its position in Watsco, Inc. (NYSE:WSO - Free Report) by 90.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,632 shares of the construction company's stock after purchasing an additional 5,036 shares during the period. Cerity Partners LLC's holdings in Watsco were worth $5,230,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. J. W. Coons Advisors LLC lifted its holdings in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after purchasing an additional 20 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. CWM LLC increased its stake in shares of Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after acquiring an additional 24 shares during the period. MCF Advisors LLC increased its stake in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after acquiring an additional 25 shares during the period. Finally, Equitable Trust Co. raised its holdings in Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Price Performance

Shares of NYSE:WSO traded down $3.07 on Friday, reaching $551.60. 143,431 shares of the company traded hands, compared to its average volume of 281,259. The stock has a market capitalization of $22.27 billion, a PE ratio of 43.18 and a beta of 0.88. The company's 50 day moving average is $505.23 and its 200-day moving average is $487.40. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced 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 analysts' expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.35 earnings per share. As a group, analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. Watsco's dividend payout ratio is currently 83.46%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating on the stock. Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $491.25.

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.