CIBC Asset Management Inc Buys 87 Shares of Watsco, Inc. (NYSE:WSO)

CIBC Asset Management Inc grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,083 shares of the construction company’s stock after acquiring an additional 87 shares during the period. CIBC Asset Management Inc’s holdings in Watsco were worth $1,025,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC grew its holdings in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. Quarry LP bought a new position in shares of Watsco during the 2nd quarter worth $26,000. Tortoise Investment Management LLC increased its holdings in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Watsco in the 3rd quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Watsco by 30.6% during 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 last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.0 %

Watsco stock opened at $533.40 on Thursday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49. The firm has a market capitalization of $21.54 billion, a PE ratio of 41.22 and a beta of 0.88. The firm’s 50 day simple moving average is $496.90 and its 200 day simple moving average is $484.03.

Watsco (NYSE:WSO) last released its quarterly earnings results 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). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.35 EPS. Research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WSO. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Watsco 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.