Wolverine Asset Management LLC Buys New Stake in Watsco, Inc. (NYSE:WSO)

Wolverine Asset Management LLC purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,300 shares of the construction company's stock, valued at approximately $1,623,000.

A number of other large investors have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% during the third 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 during the last quarter. CWM LLC lifted its stake in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock worth $468,000 after acquiring an additional 24 shares during the last quarter. MCF Advisors LLC increased its stake in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after buying an additional 25 shares during the period. Equitable Trust Co. increased its stake 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 valued at $574,000 after acquiring an additional 25 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Watsco by 10.2% during 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 last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

WSO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th.

Watsco Trading Down 0.7 %

Shares of WSO traded down $3.50 during midday trading on Tuesday, reaching $533.36. The stock had a trading volume of 207,605 shares, compared to its average volume of 285,038. Watsco, Inc. has a 12-month low of $372.63 and a 12-month high of $540.02. The company's 50-day moving average is $486.19 and its 200 day moving average is $480.35. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 41.49 and a beta of 0.88.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results 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 firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco'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 earnings per share. Research analysts forecast that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 83.46%.

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.