Watsco, Inc. (NYSE:WSO) Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,787 shares of the construction company’s stock after acquiring an additional 390 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Watsco were worth $11,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Watsco by 256.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after buying an additional 2,427 shares in the last quarter. Gateway Investment Advisers LLC acquired a new stake in Watsco in the second quarter worth approximately $2,109,000. Markel Group Inc. boosted its stake in Watsco by 0.9% during the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after purchasing an additional 5,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after buying an additional 1,074 shares in the last quarter. Finally, Interval Partners LP acquired a new stake in shares of Watsco in the second quarter valued at $11,740,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. 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 report on Thursday, October 24th. Finally, Northcoast Research initiated coverage on shares of Watsco in a report on Friday. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Price Performance

Shares of WSO opened at $554.79 on Monday. Watsco, Inc. has a one year low of $373.33 and a one year high of $555.42. The company has a 50-day moving average of $499.99 and a two-hundred day moving average of $485.27. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88.

Watsco (NYSE:WSO) last posted 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 analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm posted $4.35 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

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.