Victory Capital Management Inc. Has $11.38 Million Position in Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. cut its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,142 shares of the construction company's stock after selling 1,035 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Watsco worth $11,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blair William & Co. IL boosted its position in Watsco by 1.2% during 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 last quarter. Markel Group Inc. boosted its stake in shares of Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after acquiring an additional 11,250 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock valued at $182,068,000 after purchasing an additional 6,320 shares during the period. Hamlin Capital Management LLC raised its holdings in Watsco by 7.4% in the 3rd quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company's stock worth $154,717,000 after acquiring an additional 21,649 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock valued at $114,924,000 after acquiring an additional 233,167 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of 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 cut their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th.

Watsco Price Performance

Shares of NYSE WSO traded up $12.84 during mid-day trading on Thursday, hitting $546.24. The company's stock had a trading volume of 177,673 shares, compared to its average volume of 282,011. The company's fifty day simple moving average is $496.90 and its 200-day simple moving average is $484.03. The stock has a market cap of $22.06 billion, a price-to-earnings ratio of 41.84 and a beta of 0.88. Watsco, Inc. has a one year low of $373.33 and a one year high of $549.74.

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). The firm 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 for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 earnings per share. On average, sell-side analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

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. This represents a $10.80 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 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.