Geneva Capital Management LLC Buys 2,793 Shares of Watsco, Inc. (NYSE:WSO)

Geneva Capital Management LLC boosted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,021 shares of the construction company's stock after purchasing an additional 2,793 shares during the quarter. Geneva Capital Management LLC owned about 0.17% of Watsco worth $33,458,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WSO. Massmutual Trust Co. FSB ADV increased 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 valued at $46,000 after acquiring an additional 22 shares in the last quarter. CWM LLC increased its stake in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after purchasing an additional 24 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after purchasing an additional 25 shares during the period. Equitable Trust Co. boosted its position in shares of Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after purchasing an additional 25 shares in the last quarter. Finally, Mather Group LLC. grew its stake in shares of Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company's stock valued at $127,000 after buying an additional 27 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

WSO traded up $10.48 during midday trading on Wednesday, reaching $543.84. 84,777 shares of the company were exchanged, compared to its average volume of 284,186. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 41.60 and a beta of 0.88. 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 $487.73 and its 200 day moving average price is $480.99.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.35 EPS. As a group, sell-side analysts anticipate that Watsco, Inc. will post 13.2 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Analyst Ratings Changes

A number of research firms recently weighed in on WSO. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

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.