Whittier Trust Co. Increases Holdings in Watsco, Inc. $WSO

Whittier Trust Co. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 398 shares of the construction company’s stock after purchasing an additional 61 shares during the quarter. Whittier Trust Co.’s holdings in Watsco were worth $176,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Trust Co. of Vermont increased its position in shares of Watsco by 10.2% during the 2nd quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock valued at $105,000 after purchasing an additional 22 shares during the last quarter. Cary Street Partners Financial LLC increased its position in shares of Watsco by 2.2% during the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock valued at $545,000 after purchasing an additional 23 shares during the last quarter. Freedom Investment Management Inc. increased its position in shares of Watsco by 4.8% during the 1st quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock valued at $256,000 after purchasing an additional 23 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Watsco by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock valued at $537,000 after purchasing an additional 24 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Watsco by 4.6% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the construction company’s stock valued at $290,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 0.8%

Shares of NYSE WSO opened at $362.01 on Friday. Watsco, Inc. has a 52 week low of $350.00 and a 52 week high of $571.41. The business has a 50-day simple moving average of $393.13 and a two-hundred day simple moving average of $436.22. The company has a market cap of $14.68 billion, a P/E ratio of 27.76 and a beta of 0.94.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $4.49 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be paid a $3.00 dividend. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.3%. Watsco’s dividend payout ratio (DPR) is currently 92.02%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WSO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Watsco in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. William Blair reissued a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. Mizuho decreased their price objective on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Watsco from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $447.50.

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.