Watsco, Inc. (NYSE:WSO) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its stake in Watsco, Inc. (NYSE:WSO) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612 shares of the construction company’s stock after purchasing an additional 37 shares during the period. Assetmark Inc.’s holdings in Watsco were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Watsco during the 2nd quarter valued at approximately $26,000. EntryPoint Capital LLC raised its holdings in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the last quarter. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. Finally, MCF Advisors LLC grew its holdings in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 1.0 %

Shares of NYSE:WSO opened at $520.74 on Friday. The company has a market capitalization of $21.03 billion, a P/E ratio of 40.24 and a beta of 0.88. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $545.49. The stock’s fifty day simple moving average is $492.47 and its 200-day simple moving average is $482.48.

Watsco (NYSE:WSO) last released 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $4.35 earnings per share. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Watsco, Inc. will post 13.06 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. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Analyst Ratings Changes

WSO has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective 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 reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a 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.