Blue Trust Inc. Grows Stake in Watsco, Inc. (NYSE:WSO)

Blue Trust Inc. boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 139.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 527 shares of the construction company’s stock after buying an additional 307 shares during the quarter. Blue Trust Inc.’s holdings in Watsco were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the period. CWM LLC raised its stake in Watsco by 2.6% during the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the period. Mather Group LLC. lifted its holdings in Watsco by 10.2% during the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in shares of Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WSO. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Trading Down 0.5 %

Shares of WSO stock opened at $475.90 on Friday. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of 36.61 and a beta of 0.88. Watsco, Inc. has a 12-month low of $340.52 and a 12-month high of $520.41. The stock’s 50-day moving average price is $482.01 and its 200-day moving average price is $473.54.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $4.35 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that Watsco, Inc. will post 13.78 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio is 83.08%.

Watsco 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.