FMR LLC lifted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,624,159 shares of the construction company's stock after buying an additional 346,470 shares during the period. FMR LLC owned about 8.98% of Watsco worth $1,782,651,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. J. W. Coons Advisors LLC boosted its position in Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock valued at $1,475,000 after buying an additional 20 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Watsco by 30.6% during the 3rd 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 during the period. CWM LLC boosted its holdings in Watsco by 2.6% during the 3rd 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 grew its position in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after acquiring an additional 25 shares during the last quarter. Finally, Equitable Trust Co. increased its stake in Watsco by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after purchasing an additional 25 shares during the period. Institutional investors own 89.71% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on WSO shares. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target 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. Finally, Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $491.25.
Check Out Our Latest Research Report on WSO
Watsco Stock Performance
Shares of Watsco stock traded up $4.05 during midday trading on Wednesday, reaching $554.55. 161,216 shares of the company's stock traded hands, compared to its average volume of 281,858. The stock has a 50 day moving average of $502.78 and a 200-day moving average of $486.45. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The company has a market cap of $22.39 billion, a PE ratio of 42.50 and a beta of 0.88.
Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the firm posted $4.35 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.
Watsco Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.95%. Watsco's dividend payout ratio (DPR) is presently 83.46%.
About Watsco
(
Free Report)
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.
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