Middleton & Co Inc MA raised its stake in Watsco Inc (NYSE:WSO) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,250 shares of the construction company’s stock after acquiring an additional 2,145 shares during the quarter. Middleton & Co Inc MA’s holdings in Watsco were worth $2,411,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in Watsco in the 2nd quarter valued at about $34,000. Cedar Wealth Management LLC bought a new position in Watsco in the 2nd quarter valued at about $38,000. Heritage Wealth Advisors raised its holdings in Watsco by 776.7% in the 2nd quarter. Heritage Wealth Advisors now owns 263 shares of the construction company’s stock valued at $43,000 after acquiring an additional 233 shares during the period. Advisory Services Network LLC grew its position in shares of Watsco by 54.2% during the 2nd quarter. Advisory Services Network LLC now owns 273 shares of the construction company’s stock worth $45,000 after purchasing an additional 96 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Watsco during the 2nd quarter worth approximately $108,000. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:WSO traded up $2.66 on Monday, reaching $175.96. 5,066 shares of the company’s stock were exchanged, compared to its average volume of 267,609. The company has a fifty day moving average of $166.02 and a 200-day moving average of $160.23. Watsco Inc has a twelve month low of $131.88 and a twelve month high of $176.64. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.12 and a beta of 0.85. The company has a current ratio of 2.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, October 17th. The construction company reported $2.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.23 by ($0.03). The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Watsco had a return on equity of 15.41% and a net margin of 5.29%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.11 EPS. As a group, equities research analysts forecast that Watsco Inc will post 6.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $6.40 annualized dividend and a dividend yield of 3.64%. Watsco’s dividend payout ratio is 98.61%.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating and set a $167.00 target price on the stock. in a research report on Saturday, August 3rd. Robert W. Baird increased their target price on shares of Watsco from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Watsco from $132.00 to $138.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Buckingham Research decreased their target price on shares of Watsco from $165.00 to $164.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Morgan Stanley increased their target price on shares of Watsco from $145.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $160.40.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
Further Reading: Bid-Ask Spread
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