Citizens Financial Group Inc. RI Has $1.58 Million Holdings in Watsco, Inc. (NYSE:WSO)

Citizens Financial Group Inc. RI boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 40.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,217 shares of the construction company's stock after purchasing an additional 929 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Watsco were worth $1,582,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WSO. EntryPoint Capital LLC raised its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company's stock worth $25,000 after buying an additional 29 shares in the last quarter. Quarry LP purchased a new position in shares of Watsco in the second quarter worth approximately $26,000. Tortoise Investment Management LLC increased its position in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock worth $34,000 after acquiring an additional 32 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Watsco in the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV increased its position 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 worth $46,000 after acquiring an additional 22 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 1.6 %

NYSE WSO traded up $8.55 during trading on Friday, reaching $554.79. The company's stock had a trading volume of 161,365 shares, compared to its average volume of 183,945. The stock has a market capitalization of $22.40 billion, a PE ratio of 42.86 and a beta of 0.88. The business has a 50-day moving average price of $499.99 and a 200-day moving average price of $485.04. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm earned $4.35 earnings per share. Watsco's revenue was up 1.6% compared to the same quarter last year. As a group, analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco's payout ratio is 83.46%.

Analysts Set New Price Targets

A number of research analysts recently commented on WSO shares. JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Northcoast Research started coverage on shares of Watsco in a research report on Friday. They set a "neutral" rating on the stock. Two investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $491.25.

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.