Pembroke Management LTD Has $29.46 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Pembroke Management LTD trimmed its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,889 shares of the construction company's stock after selling 2,015 shares during the period. Watsco accounts for approximately 3.8% of Pembroke Management LTD's holdings, making the stock its 8th biggest position. Pembroke Management LTD owned approximately 0.15% of Watsco worth $29,458,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Watsco by 4.5% during the first 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 lifted its position in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock worth $371,126,000 after purchasing an additional 9,141 shares during the last quarter. Markel Group Inc. boosted its stake in Watsco by 0.9% during the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock valued at $264,626,000 after purchasing an additional 5,000 shares during the period. Bank of New York Mellon Corp grew its holdings in Watsco by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock valued at $182,068,000 after buying an additional 6,320 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its position in shares of 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 acquiring an additional 231,987 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WSO. JPMorgan Chase & Co. raised their target price on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

Watsco Trading Up 0.2 %

WSO traded up $0.99 during mid-day trading on Friday, hitting $474.00. The stock had a trading volume of 135,956 shares, compared to its average volume of 237,710. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.65. Watsco, Inc. has a 1-year low of $359.59 and a 1-year high of $520.41. The stock's fifty day simple moving average is $481.62 and its 200-day simple moving average is $475.84. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 36.63 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 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm posted $4.35 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. As a group, research analysts forecast that Watsco, Inc. will post 13.28 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.28%. Watsco's dividend payout ratio (DPR) is currently 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.