Swiss National Bank Grows Holdings in Watsco, Inc. (NYSE:WSO)

Swiss National Bank raised its position in Watsco, Inc. (NYSE:WSO) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,144 shares of the construction company’s stock after buying an additional 2,700 shares during the period. Swiss National Bank owned approximately 0.26% of Watsco worth $50,734,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WSO. International Assets Investment Management LLC grew its position in shares of Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares in the last quarter. Swedbank AB acquired a new position in Watsco during the 1st quarter worth $90,714,000. DekaBank Deutsche Girozentrale increased its position in shares of Watsco by 225.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company’s stock worth $16,610,000 after purchasing an additional 26,911 shares during the last quarter. Interval Partners LP acquired a new stake in shares of Watsco in the 2nd quarter valued at about $11,740,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Watsco during the second quarter worth about $10,906,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 0.0 %

Shares of WSO stock opened at $533.40 on Thursday. The company has a market cap of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88. The business has a 50 day moving average of $496.90 and a two-hundred day moving average of $484.03. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $545.49.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned $4.35 earnings per share. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Analyst Upgrades and Downgrades

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

About Watsco

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.