Curi RMB Capital LLC Has $38.66 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Curi RMB Capital LLC grew its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,604 shares of the construction company's stock after purchasing an additional 1,810 shares during the quarter. Watsco makes up about 0.9% of Curi RMB Capital LLC's investment portfolio, making the stock its 28th largest position. Curi RMB Capital LLC owned 0.19% of Watsco worth $38,664,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WSO. Vanguard Group Inc. increased its stake in shares of Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock worth $1,473,836,000 after acquiring an additional 146,305 shares in the last quarter. Blair William & Co. IL grew its position in Watsco by 1.2% during the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock valued at $371,126,000 after buying an additional 9,141 shares during the period. Markel Group Inc. increased its stake in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after purchasing an additional 11,250 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock worth $182,068,000 after buying an additional 6,320 shares during the period. Finally, Hamlin Capital Management LLC increased its stake 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 worth $154,717,000 after purchasing an additional 21,649 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

Watsco stock traded down $17.27 during mid-day trading on Thursday, hitting $525.79. 276,907 shares of the company were exchanged, compared to its average volume of 284,636. The company has a market capitalization of $21.23 billion, a P/E ratio of 41.97 and a beta of 0.88. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $545.49. The business's 50 day simple moving average is $489.51 and its two-hundred day simple moving average is $481.42.

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). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.35 EPS. Equities research analysts predict that Watsco, Inc. will post 13.2 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's payout ratio is 83.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th.

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.