Great Valley Advisor Group Inc. Acquires 2,816 Shares of Watsco, Inc. (NYSE:WSO)

Great Valley Advisor Group Inc. lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 47.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,793 shares of the construction company's stock after purchasing an additional 2,816 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Watsco were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. O Shaughnessy Asset Management LLC raised its position in shares of Watsco by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,633 shares of the construction company's stock worth $705,000 after purchasing an additional 401 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Watsco by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the construction company's stock worth $216,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. grew its holdings in Watsco by 159.0% in the 1st quarter. Bessemer Group Inc. now owns 202 shares of the construction company's stock worth $87,000 after buying an additional 124 shares in the last quarter. EntryPoint Capital LLC grew its holdings in Watsco by 100.0% in 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. Finally, Price T Rowe Associates Inc. MD grew its holdings in Watsco by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 131,149 shares of the construction company's stock worth $56,653,000 after buying an additional 443 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of research reports. Robert W. Baird decreased their price target 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 objective on 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 Watsco in a report on Friday. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $491.25.

Watsco Stock Up 1.6 %

Shares of WSO traded up $8.55 during mid-day 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. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $555.42. The business has a fifty day moving average of $499.99 and a 200 day moving average of $485.16. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the prior year, the business posted $4.35 earnings per share. Watsco's revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's payout ratio is 83.46%.

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.