M&T Bank Corp Sells 34 Shares of Watsco, Inc. (NYSE:WSO)

M&T Bank Corp lowered its position in Watsco, Inc. (NYSE:WSO) by 2.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,663 shares of the construction company’s stock after selling 34 shares during the period. M&T Bank Corp’s holdings in Watsco were worth $818,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WSO. J. W. Coons Advisors LLC lifted its holdings in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after buying an additional 20 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. CWM LLC lifted its stake in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares during the period. MCF Advisors LLC boosted its position in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares in the last quarter. Finally, Equitable Trust Co. grew its stake in Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after purchasing an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

WSO stock opened at $509.26 on Tuesday. The stock’s 50 day simple moving average is $513.29 and its 200 day simple moving average is $491.28. The company has a market cap of $20.56 billion, a P/E ratio of 39.36 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s 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 predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report 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.