abrdn plc Acquires 172 Shares of Watsco, Inc. (NYSE:WSO)

abrdn plc grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,996 shares of the construction company’s stock after purchasing an additional 172 shares during the period. abrdn plc’s holdings in Watsco were worth $7,378,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. EntryPoint Capital LLC boosted its position 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 buying an additional 29 shares during the last quarter. Quarry LP purchased a new position in Watsco during the 2nd quarter worth $26,000. ORG Partners LLC bought a new stake in shares of Watsco in the 1st quarter worth $31,000. Tortoise Investment Management LLC raised its holdings in shares of Watsco by 76.2% in 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. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Watsco during the first quarter valued at about $38,000. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $474.00 on Friday. Watsco, Inc. has a fifty-two week low of $359.59 and a fifty-two week high of $520.41. The company’s 50-day moving average is $481.62 and its 200 day moving average is $475.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The company has a market capitalization of $19.12 billion, a P/E ratio of 36.63 and a beta of 0.88.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.35 earnings per share. On average, equities research analysts forecast that Watsco, Inc. will post 13.28 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WSO shares. Robert W. Baird reduced their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

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.