Larson Financial Group LLC raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 3,571.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,138 shares of the construction company's stock after buying an additional 1,107 shares during the quarter. Larson Financial Group LLC's holdings in Watsco were worth $560,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. KKM Financial LLC acquired a new stake in Watsco during the 3rd quarter worth about $250,000. Cerity Partners LLC lifted its holdings in shares of Watsco by 90.0% during the third quarter. Cerity Partners LLC now owns 10,632 shares of the construction company's stock worth $5,230,000 after purchasing an additional 5,036 shares during the period. Great Valley Advisor Group Inc. boosted its position in Watsco by 47.1% in the third quarter. Great Valley Advisor Group Inc. now owns 8,793 shares of the construction company's stock valued at $4,324,000 after buying an additional 2,816 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in Watsco by 3.7% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,549 shares of the construction company's stock worth $750,000 after buying an additional 55 shares during the period. Finally, Icon Wealth Advisors LLC raised its position in Watsco by 31.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 1,409 shares of the construction company's stock worth $693,000 after buying an additional 334 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Northcoast Research started coverage on shares of Watsco in a report on Friday. They issued a "neutral" rating on the stock. Robert W. Baird lowered their price target 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. Finally, JPMorgan Chase & Co. increased their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $491.25.
Read Our Latest Stock Report on WSO
Watsco Stock Performance
Shares of NYSE:WSO traded down $18.50 during trading on Tuesday, reaching $550.28. The stock had a trading volume of 289,565 shares, compared to its average volume of 282,385. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a market cap of $22.22 billion, a PE ratio of 42.54 and a beta of 0.88. The business has a fifty day moving average price of $501.60 and a 200-day moving average price of $485.95.
Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The business had revenue of $2.16 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $4.35 EPS. Sell-side analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.
Watsco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 1.96%. Watsco's payout ratio is 83.46%.
Watsco Company Profile
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Free Report)
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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