Watsco, Inc. (NYSE:WSO) Stock Holdings Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 86.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,831 shares of the construction company’s stock after selling 17,714 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Watsco were worth $1,393,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WSO. Blair William & Co. IL lifted its position in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock valued at $371,126,000 after acquiring an additional 9,141 shares during the last quarter. Markel Group Inc. lifted its holdings in shares of Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after purchasing an additional 11,250 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Watsco by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock valued at $182,068,000 after purchasing an additional 6,320 shares during the period. Hamlin Capital Management LLC increased its stake in Watsco by 7.4% in the 3rd quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company’s stock worth $154,717,000 after purchasing an additional 21,649 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Watsco by 48,984.7% during the 3rd 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 during the period. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WSO has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $491.25.

Watsco Stock Performance

Shares of WSO opened at $554.55 on Thursday. The company has a market capitalization of $22.39 billion, a PE ratio of 42.50 and a beta of 0.88. The company’s 50 day moving average price is $502.78 and its 200 day moving average price is $486.45. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 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.