iA Global Asset Management Inc. cut its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 64.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 845 shares of the construction company's stock after selling 1,514 shares during the period. iA Global Asset Management Inc.'s holdings in Watsco were worth $416,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Watsco during the second quarter worth $26,000. Tortoise Investment Management LLC boosted its stake 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 valued at $34,000 after buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Watsco during the third quarter worth $43,000. Massmutual Trust Co. FSB ADV raised its position in 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. Finally, Brooklyn Investment Group acquired a new stake in Watsco in the third quarter valued at $48,000. 89.71% of the stock is owned by institutional investors and hedge funds.
Watsco Stock Down 0.9 %
Shares of Watsco stock traded down $4.92 during trading on Tuesday, hitting $517.45. 139,655 shares of the company were exchanged, compared to its average volume of 277,717. The firm has a 50 day moving average price of $510.84 and a 200 day moving average price of $490.19. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 40.37 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.
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 the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm's revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.35 earnings per share. Analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.
Watsco Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.09%. Watsco's dividend payout ratio (DPR) is presently 83.46%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on WSO. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating on the stock.
Get Our Latest Stock Report on WSO
Watsco Profile
(
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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