Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Watsco, Inc. (NYSE:WSO)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,758 shares of the construction company’s stock after purchasing an additional 1,074 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Watsco were worth $31,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the last quarter. Swedbank AB purchased a new position in Watsco during the 1st quarter valued at $90,714,000. Vanguard Group Inc. raised its holdings in Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Watsco by 225.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock worth $16,610,000 after purchasing an additional 26,911 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in shares of Watsco in the 2nd quarter worth about $11,740,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $520.74 on Friday. The firm’s 50-day moving average price is $492.47 and its 200-day moving average price is $482.48. The company has a market capitalization of $21.03 billion, a PE ratio of 40.24 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49.

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

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WSO shares. JPMorgan Chase & Co. increased their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th.

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.