Watsco, Inc. $WSO Shares Bought by Equitable Trust Co.

Key Points

• Equitable Trust Co. increased its stake in Watsco, Inc. by 58.1%, holding a total of 1,891 shares valued at $835,000 as of the latest disclosure.
• Several large investors, including Goldman Sachs and Charles Schwab, significantly increased their positions in Watsco, with hedge funds collectively owning 89.71% of the stock.
• Watsco recently declared a quarterly dividend of $3.00 per share, benefiting stockholders as it maintains a 3.3% dividend yield despite a high payout ratio of 92.02%.

Equitable Trust Co. grew its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 58.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,891 shares of the construction company's stock after purchasing an additional 695 shares during the quarter. Equitable Trust Co.'s holdings in Watsco were worth $835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WSO. Goldman Sachs Group Inc. grew its position in shares of Watsco by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company's stock worth $238,329,000 after acquiring an additional 180,951 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Watsco during the first quarter worth approximately $54,536,000. Charles Schwab Investment Management Inc. grew its position in shares of Watsco by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company's stock worth $739,088,000 after acquiring an additional 82,977 shares during the last quarter. Nuveen LLC purchased a new position in shares of Watsco during the first quarter worth approximately $41,218,000. Finally, Blair William & Co. IL grew its position in shares of Watsco by 5.7% during the first quarter. Blair William & Co. IL now owns 814,712 shares of the construction company's stock worth $414,118,000 after acquiring an additional 43,776 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WSO shares. William Blair restated a "market perform" rating on shares of Watsco in a research report on Wednesday. UBS Group lowered their target price on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Watsco from $425.00 to $400.00 and set a "neutral" rating on the stock in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of Watsco from $505.00 to $460.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Watsco in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Watsco currently has a consensus rating of "Hold" and an average target price of $462.50.

Watsco Stock Performance

Shares of NYSE WSO opened at $360.02 on Thursday. The firm has a market capitalization of $14.60 billion, a P/E ratio of 27.61 and a beta of 0.94. Watsco, Inc. has a one year low of $350.00 and a one year high of $571.41. The company's fifty day moving average is $400.35 and its two-hundred day moving average is $442.24.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). The company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.Watsco's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.49 earnings per share. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco's payout ratio is 92.02%.

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.

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