Watsco, Inc. (NYSE:WSO) Shares Acquired by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC boosted its position in Watsco, Inc. (NYSE:WSO) by 3.7% during the third quarter, Holdings Channel.com reports. The fund owned 1,549 shares of the construction company’s stock after purchasing an additional 55 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Watsco were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WSO. Quarry LP purchased a new stake in Watsco during the second quarter worth approximately $26,000. EntryPoint Capital LLC boosted its position in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Tortoise Investment Management LLC boosted 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 worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Watsco in the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO opened at $554.79 on Friday. Watsco, Inc. has a one year low of $373.33 and a one year high of $555.42. The stock has a 50-day moving average price of $499.99 and a 200 day moving average price of $485.16. The company has a market capitalization of $22.40 billion, a P/E ratio of 42.87 and a beta of 0.88.

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

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

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

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.