Ontario Teachers Pension Plan Board Sells 2,176 Shares of Watsco, Inc. (NYSE:WSO)

Ontario Teachers Pension Plan Board cut its position in shares of Watsco, Inc. (NYSE:WSO) by 41.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,077 shares of the construction company’s stock after selling 2,176 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Watsco were worth $1,514,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WSO. Quarry LP bought a new stake in shares of Watsco during the second quarter worth $26,000. EntryPoint Capital LLC increased its stake in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the period. Tortoise Investment Management LLC increased its position in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new position in Watsco in the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 0.0 %

WSO stock opened at $533.40 on Thursday. The stock has a market capitalization of $21.54 billion, a PE ratio of 41.22 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $545.49. The firm has a 50 day moving average of $496.90 and a 200 day moving average of $484.03.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 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%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.35 EPS. On average, equities research analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The company 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.02%. Watsco’s dividend payout ratio is currently 83.46%.

Analyst Ratings Changes

WSO has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Watsco Company 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.