Dynamic Technology Lab Private Ltd Raises Stock Position in Watsco, Inc. (NYSE:WSO)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 20.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,721 shares of the construction company’s stock after purchasing an additional 454 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Watsco were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after buying an additional 62,041 shares during the period. Blair William & Co. IL boosted its position in 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 in the last quarter. Markel Group Inc. boosted its position in Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after purchasing an additional 11,250 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Watsco by 1.6% during 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 period. Finally, Hamlin Capital Management LLC lifted its stake in shares of Watsco by 7.4% in the 3rd quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company’s stock valued at $154,717,000 after purchasing an additional 21,649 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on WSO shares. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $491.25.

Watsco Stock Performance

Shares of WSO stock opened at $550.50 on Wednesday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The firm’s 50 day moving average price is $501.60 and its 200-day moving average price is $485.95. The firm has a market cap of $22.23 billion, a P/E ratio of 42.54 and a beta of 0.88.

Watsco (NYSE:WSO) last released 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). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.35 earnings per share. As a group, research analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.96%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

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.