National Bank of Canada FI Boosts Position in Watsco, Inc. (NYSE:WSO)

National Bank of Canada FI lifted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 764.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,745 shares of the construction company's stock after purchasing an additional 4,196 shares during the quarter. National Bank of Canada FI's holdings in Watsco were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI increased its holdings in shares of Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock worth $1,582,000 after buying an additional 929 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company's stock valued at $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock valued at $31,853,000 after buying an additional 1,074 shares in the last quarter. Markel Group Inc. boosted its position in Watsco by 0.9% during the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock valued at $264,626,000 after buying an additional 5,000 shares during the period. Finally, Interval Partners LP purchased a new stake in shares of Watsco during the second quarter worth about $11,740,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Trading Down 0.3 %

Shares of WSO stock traded down $1.74 during trading hours on Friday, reaching $509.72. 142,166 shares of the company's stock were exchanged, compared to its average volume of 175,763. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock has a market cap of $20.58 billion, a PE ratio of 39.39 and a beta of 0.92. The stock's fifty day moving average price is $512.83 and its two-hundred day moving average price is $490.84.

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). The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 earnings per share. On average, equities analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal 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 paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio is presently 83.46%.

Analyst Ratings Changes

A number of research analysts recently weighed in on WSO shares. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

About Watsco

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.