Watsco, Inc. (NYSE:WSO) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank grew its position in Watsco, Inc. (NYSE:WSO - Free Report) by 32.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,258 shares of the construction company's stock after acquiring an additional 1,038 shares during the quarter. Toronto Dominion Bank's holdings in Watsco were worth $2,094,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WSO. Quarry LP acquired a new position in Watsco in the second 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 acquiring an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after acquiring an additional 22 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Watsco in the 3rd quarter valued at approximately $48,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. 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 Stock Performance

Watsco stock traded down $0.46 during midday trading on Monday, reaching $509.26. The company's stock had a trading volume of 190,133 shares, compared to its average volume of 275,849. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a market capitalization of $20.56 billion, a PE ratio of 39.47 and a beta of 0.92. The stock's 50 day simple moving average is $512.83 and its 200 day simple moving average is $491.04.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period last year, the firm earned $4.35 EPS. Watsco's revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. Watsco's dividend payout ratio (DPR) 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.