Watsco, Inc. $WSO Position Increased by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,572,186 shares of the construction company’s stock after purchasing an additional 3,324 shares during the period. Vanguard Group Inc. owned 8.82% of Watsco worth $1,577,549,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WSO. WPG Advisers LLC purchased a new stake in shares of Watsco during the 1st quarter worth about $25,000. Ameritas Advisory Services LLC acquired a new position in Watsco in the second quarter worth approximately $26,000. TCTC Holdings LLC raised its position in Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after acquiring an additional 30 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in Watsco in the second quarter valued at approximately $34,000. Finally, Ransom Advisory Ltd bought a new stake in Watsco in the first quarter worth approximately $45,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

Watsco stock opened at $336.58 on Friday. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 26.30 and a beta of 0.93. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $571.41. The firm has a fifty day moving average price of $371.55 and a two-hundred day moving average price of $417.04.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The company had revenue of $2.07 billion for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. As a group, sell-side analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s payout ratio is currently 93.75%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WSO. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. William Blair reissued a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. JPMorgan Chase & Co. cut their target price on Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Mizuho decreased their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Finally, UBS Group lowered their price objective on Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $435.00.

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.