Brown Brothers Harriman & Co. Has $42.41 Million Holdings in Watsco, Inc. (NYSE:WSO)

Brown Brothers Harriman & Co. raised its holdings in Watsco, Inc. (NYSE:WSO) by 17.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,548 shares of the construction company’s stock after acquiring an additional 13,340 shares during the period. Brown Brothers Harriman & Co.’s holdings in Watsco were worth $42,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. EntryPoint Capital LLC grew its position in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. First PREMIER Bank bought a new stake in shares of Watsco during the first quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Watsco during the first quarter worth $31,000. Tortoise Investment Management LLC raised its holdings 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 acquiring an additional 32 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 1.2 %

Shares of Watsco stock opened at $476.71 on Monday. The stock has a market cap of $19.23 billion, a P/E ratio of 36.67 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41. The business’s 50 day moving average is $478.11 and its 200-day moving average is $458.65.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company posted $4.42 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s payout ratio is presently 83.08%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WSO. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price target on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $433.71.

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.