Delta Investment Management LLC Buys 346 Shares of Watsco Inc (NYSE:WSO)

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Delta Investment Management LLC grew its stake in shares of Watsco Inc (NYSE:WSO) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,878 shares of the construction company’s stock after buying an additional 346 shares during the period. Delta Investment Management LLC’s holdings in Watsco were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Rikoon Group LLC bought a new stake in Watsco in the third quarter worth $206,000. First Trust Advisors LP increased its position in Watsco by 14.0% in the third quarter. First Trust Advisors LP now owns 305,648 shares of the construction company’s stock worth $51,710,000 after purchasing an additional 37,585 shares during the last quarter. Donaldson Capital Management LLC increased its position in Watsco by 28.3% in the third quarter. Donaldson Capital Management LLC now owns 2,549 shares of the construction company’s stock worth $431,000 after purchasing an additional 562 shares during the last quarter. Vision Capital Management Inc. increased its position in Watsco by 451.6% in the third quarter. Vision Capital Management Inc. now owns 14,513 shares of the construction company’s stock worth $2,455,000 after purchasing an additional 11,882 shares during the last quarter. Finally, Markel Corp increased its position in Watsco by 5.8% in the third quarter. Markel Corp now owns 376,500 shares of the construction company’s stock worth $63,696,000 after purchasing an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 76.69% of the company’s stock.

NYSE WSO opened at $177.77 on Friday. The company has a quick ratio of 1.25, a current ratio of 3.12 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $170.62 and a two-hundred day moving average of $163.32. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.18 and a beta of 0.82. Watsco Inc has a 52 week low of $131.88 and a 52 week high of $180.69.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Thursday, October 17th. The construction company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.03). The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Watsco had a return on equity of 15.07% and a net margin of 5.29%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 earnings per share. Equities research analysts anticipate that Watsco Inc will post 6.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, October 11th. Watsco’s payout ratio is 98.61%.

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Watsco from $145.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. boosted their price target 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. Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating and set a $167.00 price target on the stock. in a research report on Saturday, August 3rd. Buckingham Research reduced their price target on shares of Watsco from $165.00 to $164.00 and set a “neutral” rating on the stock in a research report on Friday, October 18th. Finally, Robert W. Baird boosted their price target on shares of Watsco from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Watsco has a consensus rating of “Hold” and a consensus target price of $160.40.

In other Watsco news, Director George Sape sold 550 shares of Watsco stock in a transaction on Monday, October 21st. The shares were sold at an average price of $174.87, for a total transaction of $96,178.50. Following the completion of the transaction, the director now directly owns 8,031 shares of the company’s stock, valued at $1,404,380.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.61% of the stock is owned by insiders.

Watsco 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.

See Also: How to Invest in Stocks with Increasing Dividends

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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