Edgestream Partners L.P. Purchases New Holdings in Watsco, Inc. (NYSE:WSO)

Edgestream Partners L.P. acquired a new position in shares of Watsco, Inc. (NYSE:WSO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,634 shares of the construction company’s stock, valued at approximately $1,296,000.

Other hedge funds have also recently bought and sold shares of the company. Gateway Investment Advisers LLC bought a new position in Watsco in the second quarter valued at about $2,109,000. Citizens Financial Group Inc. RI boosted its stake in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after purchasing an additional 929 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Watsco by 1.7% during the third 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 during the last quarter. Finally, Markel Group Inc. lifted its holdings in Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after buying an additional 5,000 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $491.25.

Watsco Stock Up 0.0 %

Shares of NYSE WSO opened at $543.19 on Wednesday. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 41.98 and a beta of 0.92. The company’s fifty day moving average is $507.41 and its 200-day moving average is $488.47.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.35 earnings per share. On average, research analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.99%. 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.