iSAM Funds UK Ltd Boosts Stake in Watsco, Inc. (NYSE:WSO)

iSAM Funds UK Ltd increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 163.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,167 shares of the construction company’s stock after purchasing an additional 724 shares during the period. iSAM Funds UK Ltd’s holdings in Watsco were worth $574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WSO. FMR LLC boosted its position in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC boosted its position in shares of Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after purchasing an additional 233,167 shares during the period. Benjamin Edwards Inc. lifted its holdings in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after buying an additional 102,640 shares in the last quarter. State Street Corp lifted its holdings in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after buying an additional 62,041 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WSO. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. 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 report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Stock Up 0.6 %

Watsco stock opened at $526.81 on Friday. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company’s 50 day moving average is $510.23 and its two-hundred day moving average is $489.84. The firm has a market cap of $21.27 billion, a PE ratio of 40.71 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $4.35 earnings per share. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.05%. 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.