2,707 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas bought a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,707 shares of the construction company's stock, valued at approximately $1,332,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC increased its holdings in Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after purchasing an additional 233,167 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock valued at $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp boosted its holdings in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after buying an additional 63,254 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WSO shares. Robert W. Baird lowered 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, October 24th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They set a "neutral" rating on the stock.

Watsco Stock Down 0.3 %

WSO traded down $1.74 during trading on Friday, hitting $509.72. 142,166 shares of the company's stock were exchanged, compared to its average volume of 175,763. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The stock has a market cap of $20.58 billion, a P/E ratio of 39.39 and a beta of 0.92. The business's 50 day moving average is $512.83 and its two-hundred day moving average is $490.84.

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

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. 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.