King Luther Capital Management Corp Has $60.08 Million Stock Position in Watsco, Inc. (NYSE:WSO)

King Luther Capital Management Corp increased its position in shares of Watsco, Inc. (NYSE:WSO) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,147 shares of the construction company’s stock after purchasing an additional 15,700 shares during the quarter. King Luther Capital Management Corp’s holdings in Watsco were worth $60,081,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WSO. EntryPoint Capital LLC increased its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. Quarry LP acquired a new stake in shares of Watsco during the 2nd quarter worth about $26,000. Tortoise Investment Management LLC increased its position 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 in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Watsco in the 3rd quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $533.40 on Thursday. The company’s 50 day simple moving average is $496.90 and its 200 day simple moving average is $484.03. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $545.49. The firm has a market capitalization of $21.54 billion, a price-to-earnings ratio of 41.22 and a beta of 0.88.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $4.35 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts predict 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 paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WSO shares. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their target price 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.

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.