Watsco, Inc. (NYSE:WSO) Holdings Reduced by Mather Group LLC.

Mather Group LLC. lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 11.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259 shares of the construction company’s stock after selling 34 shares during the period. Mather Group LLC.’s holdings in Watsco were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. First PREMIER Bank bought a new stake in Watsco during the 1st quarter valued at $25,000. EntryPoint Capital LLC increased its holdings in shares of 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 stake in shares of Watsco during the second quarter valued at about $26,000. ORG Partners LLC acquired a new stake in Watsco in the first quarter worth about $31,000. Finally, Tortoise Investment Management LLC grew its position in 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. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on WSO. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their target price on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Watsco Price Performance

Shares of NYSE WSO opened at $491.58 on Friday. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $478.24 and a two-hundred day moving average of $470.01. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 37.81 and a beta of 0.88.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate of $4.70 by ($0.21). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $4.42 earnings per share. As a group, analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, October 16th. Watsco’s payout ratio is 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.