BNP Paribas Financial Markets Acquires 5,034 Shares of Watsco, Inc. (NYSE:WSO)

BNP Paribas Financial Markets raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 32.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,585 shares of the construction company’s stock after buying an additional 5,034 shares during the period. BNP Paribas Financial Markets owned 0.05% of Watsco worth $10,125,000 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 the stock. Quarry LP bought a new position in shares of Watsco in the 2nd quarter valued at approximately $26,000. Tortoise Investment Management LLC grew its holdings in Watsco by 76.2% during the second 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 bought a new position in shares of Watsco in the third quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Watsco by 30.6% in 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, Brooklyn Investment Group bought a new stake in shares of Watsco during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WSO. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Stock Performance

NYSE WSO opened at $551.60 on Monday. 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 $22.27 billion, a PE ratio of 42.63 and a beta of 0.88. The firm has a 50-day simple moving average of $506.47 and a 200 day simple moving average of $487.92.

Watsco (NYSE:WSO) last released its quarterly earnings data 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 firm had revenue of $2.16 billion for 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%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 earnings per share. Research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.96%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

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.