Massachusetts Financial Services Co. MA Has $1.39 Million Stake in Watsco, Inc. (NYSE:WSO)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 86.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,831 shares of the construction company's stock after selling 17,714 shares during the period. Massachusetts Financial Services Co. MA's holdings in Watsco were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WSO. King Luther Capital Management Corp boosted its holdings in Watsco by 14.7% during the third quarter. King Luther Capital Management Corp now owns 122,147 shares of the construction company's stock worth $60,081,000 after buying an additional 15,700 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Watsco by 40.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock valued at $1,582,000 after acquiring an additional 929 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Watsco by 10.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,109 shares of the construction company's stock worth $2,021,000 after acquiring an additional 400 shares in the last quarter. EULAV Asset Management grew its holdings in shares of Watsco by 98.8% in the 3rd quarter. EULAV Asset Management now owns 48,900 shares of the construction company's stock worth $24,053,000 after acquiring an additional 24,300 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Watsco by 8.0% during the third quarter. First Horizon Advisors Inc. now owns 512 shares of the construction company's stock worth $252,000 after purchasing an additional 38 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on WSO. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Robert W. Baird decreased their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $491.25.

Watsco Trading Up 0.8 %

NYSE WSO traded up $4.17 during trading on Thursday, reaching $554.67. 161,216 shares of the company's stock were exchanged, compared to its average volume of 206,692. The firm has a market capitalization of $22.40 billion, a PE ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company's fifty day simple moving average is $504.14 and its 200-day simple moving average is $486.93.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 EPS. Equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco's payout ratio is 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.