Watsco, Inc. $WSO Shares Bought by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel Inc. increased its holdings in Watsco, Inc. by 81.8%, owning 120,000 shares after acquiring an additional 54,000 shares in Q2.
• Watsco's stock price has increased by 2.2%, with the recent trading price at $378.90, reflecting a market capitalization of $15.36 billion.
• The company has recently announced a quarterly dividend of $3.00, with an annualized yield of 3.2% and a dividend payout ratio of 92.02%.

Schwartz Investment Counsel Inc. grew its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 81.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,000 shares of the construction company's stock after purchasing an additional 54,000 shares during the period. Watsco makes up approximately 1.7% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its 19th largest holding. Schwartz Investment Counsel Inc. owned 0.30% of Watsco worth $52,994,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WSO. WPG Advisers LLC acquired a new position in shares of Watsco during the first quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Watsco during the second quarter valued at $26,000. TCTC Holdings LLC increased its holdings in shares of Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after purchasing an additional 30 shares during the period. Rossby Financial LCC acquired a new position in shares of Watsco during the first quarter valued at $33,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Watsco during the first quarter valued at $45,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Up 2.2%

NYSE:WSO opened at $378.90 on Tuesday. Watsco, Inc. has a 1-year low of $350.00 and a 1-year high of $571.41. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 29.06 and a beta of 0.94. The stock has a fifty day simple moving average of $397.91 and a 200 day simple moving average of $438.69.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business earned $4.49 EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a $3.00 dividend. The ex-dividend date is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.2%. Watsco's dividend payout ratio (DPR) is 92.02%.

Analyst Ratings Changes

WSO has been the subject of several research reports. UBS Group decreased their target price on Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research note on Tuesday, September 23rd. William Blair reaffirmed a "market perform" rating on shares of Watsco in a research note on Wednesday, October 15th. JPMorgan Chase & Co. decreased their target price on Watsco from $425.00 to $400.00 and set a "neutral" rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Watsco in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased their target price on Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $447.50.

About Watsco

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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