Cerity Partners LLC Has $5.23 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Cerity Partners LLC grew its position in Watsco, Inc. (NYSE:WSO) by 90.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,632 shares of the construction company’s stock after purchasing an additional 5,036 shares during the period. Cerity Partners LLC’s holdings in Watsco were worth $5,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WSO. Quarry LP bought a new position in Watsco in the second quarter valued at about $26,000. Tortoise Investment Management LLC boosted its stake in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the last quarter. Finally, MCF Advisors LLC lifted its holdings in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $554.67 on Friday. The company has a 50 day moving average price of $504.14 and a two-hundred day moving average price of $486.93. The company has a market capitalization of $22.40 billion, a PE ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 6.99% and a return on equity of 17.77%. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.35 EPS. On average, sell-side analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.95%. Watsco’s dividend payout ratio is presently 83.46%.

Wall Street Analyst Weigh In

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

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.