Watsco, Inc. (NYSE:WSO) Position Lessened by Oak Ridge Investments LLC

Oak Ridge Investments LLC decreased its stake in Watsco, Inc. (NYSE:WSO) by 1.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,936 shares of the construction company’s stock after selling 26 shares during the period. Oak Ridge Investments LLC’s holdings in Watsco were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Watsco by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Watsco by 1.2% in the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after purchasing an additional 9,141 shares during the last quarter. Markel Group Inc. lifted its holdings in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock worth $264,626,000 after purchasing an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 worth $182,068,000 after purchasing an additional 6,320 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Watsco by 263.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after purchasing an additional 231,987 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.2 %

Shares of WSO stock opened at $474.05 on Friday. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41. The stock has a market cap of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88. The business’s fifty day moving average is $481.62 and its 200-day moving average is $475.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post 13.28 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

WSO has been the topic of several recent analyst reports. Robert W. Baird cut their target price 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. lifted their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

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.