Commerce Bank Boosts Position in Watsco, Inc. (NYSE:WSO)

Commerce Bank boosted its holdings in Watsco, Inc. (NYSE:WSO) by 59.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,046 shares of the construction company’s stock after buying an additional 763 shares during the period. Commerce Bank’s holdings in Watsco were worth $1,006,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WSO. Quarry LP acquired a new stake in shares of Watsco during the second quarter worth approximately $26,000. EntryPoint Capital LLC grew 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 worth $25,000 after buying an additional 29 shares in the last quarter. Tortoise Investment Management LLC grew its position in shares of 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 buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Northcoast Research assumed coverage on Watsco in a research note on Friday. They set a “neutral” rating on the stock. Robert W. Baird reduced 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. Finally, JPMorgan Chase & Co. raised their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Stock Up 1.6 %

NYSE:WSO opened at $554.79 on Monday. The business’s 50-day moving average price is $499.99 and its 200 day moving average price is $485.27. The firm has a market cap of $22.40 billion, a P/E ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $555.42.

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). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.35 earnings per share. Sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco’s dividend payout ratio is currently 83.46%.

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.