Carderock Capital Management Inc. Acquires 1,840 Shares of Watsco, Inc. (NYSE:WSO)

Carderock Capital Management Inc. raised its stake in Watsco, Inc. (NYSE:WSOFree Report) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,987 shares of the construction company’s stock after buying an additional 1,840 shares during the period. Carderock Capital Management Inc.’s holdings in Watsco were worth $6,388,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WSO. Motley Fool Asset Management LLC increased its position in shares of Watsco by 263.6% during the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after acquiring an additional 231,987 shares in the last quarter. Swedbank AB bought a new position in Watsco in the 1st quarter worth about $90,714,000. Vanguard Group Inc. grew its stake in Watsco by 4.5% during the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after acquiring an additional 146,305 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after purchasing an additional 62,593 shares during the period. Finally, Norden Group LLC raised its holdings in shares of Watsco by 2,109.5% in the 1st quarter. Norden Group LLC now owns 33,120 shares of the construction company’s stock valued at $14,309,000 after acquiring an additional 31,621 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

WSO stock opened at $494.61 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The company has a market capitalization of $19.93 billion, a PE ratio of 38.05 and a beta of 0.88. The company’s fifty day moving average price is $480.15 and its 200-day moving average price is $471.32. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41.

Watsco (NYSE:WSOGet Free Report) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($0.21). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.42 EPS. On average, equities analysts anticipate that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WSO shares. Robert W. Baird boosted their price objective on shares of Watsco from $522.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Check Out Our Latest Stock Analysis on WSO

Watsco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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