Edgestream Partners L.P. Takes Position in Watsco, Inc. (NYSE:WSO)

Edgestream Partners L.P. purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,634 shares of the construction company's stock, valued at approximately $1,296,000.

Several other large investors also recently modified their holdings of WSO. FMR LLC lifted its stake in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after acquiring an additional 62,041 shares in the last quarter. Blair William & Co. IL grew 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 purchasing an additional 9,141 shares during the period. Markel Group Inc. raised its stake 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Watsco by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock worth $182,068,000 after purchasing an additional 6,320 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Down 1.0 %

Shares of NYSE WSO traded down $5.49 during mid-day trading on Wednesday, hitting $537.50. 123,268 shares of the company were exchanged, compared to its average volume of 279,717. The firm has a market cap of $21.71 billion, a price-to-earnings ratio of 41.98 and a beta of 0.92. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a 50 day simple moving average of $508.38 and a 200-day simple moving average of $488.93.

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). The firm had revenue of $2.16 billion during 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%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.35 EPS. Analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analyst Weigh In

WSO has been the subject of several recent research reports. Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Watsco has a consensus rating of "Moderate Buy" and an average target price 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.