Fmr LLC Raises Stake in Watsco, Inc. (NYSE:WSO)

Fmr LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 10.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,624,159 shares of the construction company’s stock after purchasing an additional 346,470 shares during the period. Fmr LLC owned 0.09% of Watsco worth $1,782,651,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Watsco by 256.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock worth $1,510,000 after purchasing an additional 2,427 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in shares of Watsco in the 2nd quarter valued at about $2,109,000. Markel Group Inc. raised its holdings in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after acquiring an additional 5,000 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after acquiring an additional 929 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after acquiring an additional 1,074 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the topic of several recent analyst reports. Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Trading Down 3.2 %

Shares of NYSE WSO opened at $550.50 on Wednesday. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 42.54 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock’s 50-day moving average is $501.60 and its 200 day moving average is $485.95.

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). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.35 earnings per share. On average, analysts forecast that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. Watsco’s dividend payout ratio is 83.46%.

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.