Nisa Investment Advisors LLC Has $9.01 Million Stake in Watsco, Inc. (NYSE:WSO)

Nisa Investment Advisors LLC cut its holdings in Watsco, Inc. (NYSE:WSO) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,320 shares of the construction company’s stock after selling 220 shares during the period. Nisa Investment Advisors LLC’s holdings in Watsco were worth $9,011,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WSO. Semanteon Capital Management LP grew its position in shares of Watsco by 202.4% in the third quarter. Semanteon Capital Management LP now owns 2,313 shares of the construction company’s stock valued at $1,138,000 after purchasing an additional 1,548 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Watsco by 16.1% in the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after purchasing an additional 560 shares in the last quarter. Hamlin Capital Management LLC lifted its holdings in shares of Watsco by 7.4% during the 3rd quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company’s stock worth $154,717,000 after acquiring an additional 21,649 shares during the period. Mattern Capital Management LLC boosted its holdings in Watsco by 10.5% during the third quarter. Mattern Capital Management LLC now owns 1,109 shares of the construction company’s stock valued at $545,000 after purchasing an additional 105 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 0.2 %

NYSE:WSO opened at $474.27 on Thursday. The company has a quick ratio of 1.65, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $344.82 and a 12-month high of $520.41. The stock’s fifty day simple moving average is $481.96 and its 200-day simple moving average is $474.99. The firm has a market capitalization of $19.11 billion, a P/E ratio of 36.48 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 EPS. Equities research analysts expect that Watsco, Inc. will post 13.43 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, October 16th. Watsco’s payout ratio is presently 83.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WSO. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered 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.

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.