Benjamin Edwards Inc. Purchases 102,640 Shares of Watsco, Inc. (NYSE:WSO)

Benjamin Edwards Inc. increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2,128.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 107,463 shares of the construction company's stock after purchasing an additional 102,640 shares during the period. Watsco comprises about 0.8% of Benjamin Edwards Inc.'s investment portfolio, making the stock its 22nd biggest holding. Benjamin Edwards Inc. owned 0.27% of Watsco worth $52,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after acquiring an additional 62,041 shares in the last quarter. Blair William & Co. IL boosted its position in 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 acquiring an additional 9,141 shares during the period. Markel Group Inc. grew its stake in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock valued at $286,520,000 after acquiring an additional 11,250 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 6,320 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of Watsco stock traded down $8.43 during trading on Monday, hitting $543.17. 212,638 shares of the stock traded hands, compared to its average volume of 280,963. The company has a fifty day moving average price of $506.47 and a two-hundred day moving average price of $487.96. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The stock has a market cap of $21.93 billion, a P/E ratio of 42.66 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last posted its 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $4.35 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given 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 1.99%. Watsco's dividend payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several research reports. Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They set a "neutral" rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Watsco currently has a consensus rating of "Moderate Buy" and an average price target of $491.25.

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.