1,272 Shares in Watsco, Inc. (NYSE:WSO) Bought by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP purchased a new stake in Watsco, Inc. (NYSE:WSO) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,272 shares of the construction company’s stock, valued at approximately $626,000.

Several other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC lifted its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the last quarter. Quarry LP acquired a new stake in Watsco during the 2nd quarter worth $26,000. Tortoise Investment Management LLC grew its position in 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 last quarter. Massmutual Trust Co. FSB ADV increased its stake 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 purchasing an additional 22 shares during the period. Finally, MCF Advisors LLC grew its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 1.6 %

NYSE WSO opened at $536.89 on Tuesday. Watsco, Inc. has a 12-month low of $372.63 and a 12-month high of $539.10. The stock has a market capitalization of $21.68 billion, a price-to-earnings ratio of 41.49 and a beta of 0.88. The business’s 50 day moving average is $486.19 and its two-hundred day moving average is $480.35.

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

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 2.01%. 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

A number of research firms have weighed in on WSO. Robert W. Baird decreased their price objective on 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. lifted 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.

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.