Bank of Montreal Can Has $15.90 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Bank of Montreal Can boosted its stake in Watsco, Inc. (NYSE:WSO) by 213.2% in the second quarter, Holdings Channel reports. The institutional investor owned 32,972 shares of the construction company’s stock after acquiring an additional 22,446 shares during the quarter. Bank of Montreal Can’s holdings in Watsco were worth $15,903,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First PREMIER Bank purchased a new stake in shares of Watsco during the first quarter worth $25,000. EntryPoint Capital LLC raised its stake in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Watsco during the 1st quarter valued at about $31,000. Tortoise Investment Management LLC grew 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 buying an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $469.80.

Watsco Stock Down 0.9 %

WSO opened at $495.98 on Friday. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The business has a 50 day moving average price of $478.15 and a 200 day moving average price of $465.01. The firm has a market cap of $19.99 billion, a P/E ratio of 38.15 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $4.42 earnings per share. Watsco’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio is currently 83.08%.

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.