Watsco, Inc. (NYSE:WSO) Stock Holdings Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 8.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,888 shares of the construction company’s stock after purchasing an additional 140 shares during the period. First Trust Direct Indexing L.P.’s holdings in Watsco were worth $929,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. abrdn plc grew its holdings in shares of Watsco by 1.2% during the 3rd quarter. abrdn plc now owns 14,996 shares of the construction company’s stock valued at $7,378,000 after acquiring an additional 172 shares in the last quarter. Hunter Associates Investment Management LLC boosted its position in Watsco by 1.8% during the third quarter. Hunter Associates Investment Management LLC now owns 6,555 shares of the construction company’s stock valued at $3,223,000 after purchasing an additional 115 shares during the last quarter. Autumn Glory Partners LLC grew its stake in Watsco by 149.8% in the third quarter. Autumn Glory Partners LLC now owns 1,369 shares of the construction company’s stock valued at $679,000 after purchasing an additional 821 shares in the last quarter. Semanteon Capital Management LP increased its position in Watsco by 202.4% in the 3rd quarter. Semanteon Capital Management LP now owns 2,313 shares of the construction company’s stock worth $1,138,000 after purchasing an additional 1,548 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Watsco by 16.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock worth $1,985,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO opened at $474.05 on Friday. The stock’s 50 day simple moving average is $481.62 and its 200-day simple moving average is $475.41. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 EPS. Sell-side analysts forecast that Watsco, Inc. will post 13.43 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

Analyst Ratings Changes

WSO has been the subject of several research reports. JPMorgan Chase & Co. lifted 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. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

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.