3,300 Shares in Watsco, Inc. (NYSE:WSO) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,300 shares of the construction company’s stock, valued at approximately $1,623,000.

Several other institutional investors also recently made changes to their positions in WSO. Quarry LP acquired a new position in Watsco in the second quarter valued at $26,000. EntryPoint Capital LLC lifted its stake in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Watsco during the 3rd quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 1.6 %

WSO opened at $536.89 on Tuesday. The firm’s 50 day moving average is $486.19 and its 200-day moving average is $480.35. Watsco, Inc. has a 52-week low of $372.63 and a 52-week high of $539.10. The firm has a market capitalization of $21.68 billion, a P/E ratio of 41.49 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.35 EPS. Equities analysts expect that Watsco, Inc. will post 13.2 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.01%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSO. Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

About Watsco

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.