Watsco, Inc. (NYSE:WSO) Stock Position Increased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its position in Watsco, Inc. (NYSE:WSO) by 29.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,763 shares of the construction company’s stock after purchasing an additional 27,215 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Watsco were worth $58,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. EntryPoint Capital LLC increased its position in 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 acquiring an additional 29 shares during the period. Quarry LP bought a new position in shares of Watsco in the second quarter worth $26,000. Tortoise Investment Management LLC increased its holdings in shares of Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Watsco during the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday. They set a “neutral” rating on the stock. 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 note on Wednesday, July 31st. Finally, Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Stock Up 1.6 %

NYSE:WSO opened at $554.79 on Monday. The stock has a fifty day simple moving average of $499.99 and a 200 day simple moving average of $485.27. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate 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 previous year, the business earned $4.35 earnings per share. Equities analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

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.