Ontario Teachers Pension Plan Board Sells 2,176 Shares of Watsco, Inc. (NYSE:WSO)

Ontario Teachers Pension Plan Board decreased its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 41.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,077 shares of the construction company's stock after selling 2,176 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Watsco were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC raised its holdings in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company's stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. Quarry LP purchased a new stake in Watsco during the 2nd quarter valued at $26,000. Tortoise Investment Management LLC raised its stake in Watsco by 76.2% during the 2nd 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 during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after buying an additional 22 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st.

Watsco Price Performance

Shares of WSO stock opened at $533.40 on Thursday. Watsco, Inc. has a one year low of $373.33 and a one year high of $545.49. The company's fifty day moving average price is $496.90 and its 200-day moving average price is $484.03. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 41.22 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 for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the business posted $4.35 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio is 83.46%.

Watsco 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.

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