Metis Global Partners LLC Buys Shares of 431 Watsco, Inc. (NYSE:WSO)

Metis Global Partners LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 431 shares of the construction company’s stock, valued at approximately $212,000.

A number of other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Watsco in the 2nd quarter valued at about $26,000. EntryPoint Capital LLC grew its holdings in shares of Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Watsco by 30.6% during the 3rd 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 in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on WSO. JPMorgan Chase & Co. boosted 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 reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Price Performance

Watsco stock opened at $533.39 on Wednesday. The stock’s fifty day moving average is $495.46 and its two-hundred day moving average is $483.68. The stock has a market cap of $21.54 billion, a PE ratio of 41.22 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 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

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

Watsco Company 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.