Toronto Dominion Bank raised its position in Watsco, Inc. (NYSE:WSO – Free Report) by 32.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,258 shares of the construction company’s stock after purchasing an additional 1,038 shares during the quarter. Toronto Dominion Bank’s holdings in Watsco were worth $2,094,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Watsco by 24.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 664 shares of the construction company’s stock worth $308,000 after acquiring an additional 131 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Watsco by 86.4% during the second quarter. Blue Trust Inc. now owns 220 shares of the construction company’s stock worth $95,000 after purchasing an additional 102 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Watsco by 16.3% in the second quarter. Nisa Investment Advisors LLC now owns 18,540 shares of the construction company’s stock valued at $8,588,000 after buying an additional 2,595 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Watsco by 8.2% in the second quarter. First Horizon Advisors Inc. now owns 474 shares of the construction company’s stock valued at $220,000 after buying an additional 36 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Watsco in the second quarter valued at about $332,000. 89.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on WSO shares. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company.
Watsco Stock Down 0.3 %
Watsco stock opened at $509.72 on Monday. The business’s 50-day simple moving average is $512.83 and its 200 day simple moving average is $491.04. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 39.39 and a beta of 0.92. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.
Watsco (NYSE:WSO – Get Free Report) last released 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $4.35 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.
Watsco Announces Dividend
The firm also recently disclosed 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 was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. Watsco’s payout ratio is presently 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.
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