Watsco, Inc. (NYSE:WSO) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in Watsco, Inc. (NYSE:WSO) by 40.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,217 shares of the construction company’s stock after acquiring an additional 929 shares during the period. Citizens Financial Group Inc. RI’s holdings in Watsco were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after purchasing an additional 233,167 shares during the period. Swedbank AB purchased a new stake in shares of Watsco in the first quarter worth about $90,714,000. DekaBank Deutsche Girozentrale grew its holdings in Watsco by 225.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock worth $16,610,000 after acquiring an additional 26,911 shares during the period. Interval Partners LP purchased a new position in Watsco during the second quarter valued at approximately $11,740,000. Finally, EULAV Asset Management lifted its holdings in Watsco by 98.8% in the third quarter. EULAV Asset Management now owns 48,900 shares of the construction company’s stock valued at $24,053,000 after acquiring an additional 24,300 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WSO shares. Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research report on Friday. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Price Performance

Shares of WSO stock opened at $554.60 on Friday. The stock has a 50 day simple moving average of $499.99 and a 200-day simple moving average of $485.04. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42. The company has a market cap of $22.39 billion, a price-to-earnings ratio of 42.86 and a beta of 0.88.

Watsco (NYSE:WSO) last posted 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company posted $4.35 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

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 $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s payout ratio is 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.