4,199 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Weiss Asset Management LP

Weiss Asset Management LP purchased a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,199 shares of the construction company's stock, valued at approximately $2,065,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WSO. Gateway Investment Advisers LLC bought a new position in shares of Watsco during the 2nd quarter valued at $2,109,000. Citizens Financial Group Inc. RI grew its stake in shares of Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock valued at $1,582,000 after buying an additional 929 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company's stock valued at $560,000 after buying an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock valued at $31,853,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Markel Group Inc. boosted its holdings in Watsco by 0.9% during the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock valued at $264,626,000 after acquiring an additional 5,000 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 0.6 %

Shares of WSO traded up $3.11 during mid-day trading on Friday, hitting $526.81. 167,656 shares of the company's stock traded hands, compared to its average volume of 188,328. The firm has a market capitalization of $21.27 billion, a P/E ratio of 40.71 and a beta of 0.92. The business's 50-day moving average price is $510.23 and its 200-day moving average price is $489.84. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the firm posted $4.35 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business 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 annualized dividend and a yield of 2.05%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WSO shares. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $491.25.

About Watsco

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.