Healthcare of Ontario Pension Plan Trust Fund Takes $1.61 Million Position in Watsco, Inc. (NYSE:WSO)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Watsco, Inc. (NYSE:WSO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,270 shares of the construction company’s stock, valued at approximately $1,608,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP acquired a new position in shares of Watsco during the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC increased its stake in Watsco by 76.2% during 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 period. Ashton Thomas Securities LLC acquired a new position in Watsco in the 3rd quarter valued at $43,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the period. Finally, Brooklyn Investment Group acquired 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.

Watsco Stock Down 0.6 %

Watsco stock opened at $551.60 on Monday. The stock has a market cap of $22.27 billion, a PE ratio of 42.63 and a beta of 0.88. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The business’s 50-day moving average price is $506.47 and its two-hundred day moving average price is $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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company earned $4.35 earnings per share. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird cut their price target 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $491.25.

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.