Hamlin Capital Management LLC Raises Stock Position in Watsco, Inc. (NYSE:WSO)

Hamlin Capital Management LLC grew its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 314,543 shares of the construction company's stock after acquiring an additional 21,649 shares during the quarter. Watsco accounts for approximately 3.9% of Hamlin Capital Management LLC's holdings, making the stock its 16th largest holding. Hamlin Capital Management LLC owned 0.78% of Watsco worth $154,717,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock valued at $1,473,836,000 after acquiring an additional 146,305 shares during the period. Blair William & Co. IL increased its holdings in shares of Watsco by 1.2% in the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock valued at $371,126,000 after purchasing an additional 9,141 shares during the period. Markel Group Inc. raised its stake in shares of Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock worth $264,626,000 after purchasing an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Watsco by 1.6% during the second 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. Finally, Motley Fool Asset Management LLC boosted its position in Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company's stock valued at $138,234,000 after buying an additional 231,987 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on WSO shares. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. boosted their target price 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.

Watsco Stock Performance

NYSE:WSO traded down $2.36 during trading hours on Friday, reaching $475.90. The company had a trading volume of 141,261 shares, compared to its average volume of 290,810. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. Watsco, Inc. has a 1-year low of $340.52 and a 1-year high of $520.41. The business's 50 day moving average price is $482.01 and its 200-day moving average price is $474.15. The firm has a market cap of $19.18 billion, a PE ratio of 36.61 and a beta of 0.88.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results 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 analyst estimates of $2.24 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 earnings per share. Research analysts forecast that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 83.08%.

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.