HM Payson & Co. Increases Stake in Watsco, Inc. (NYSE:WSO)

HM Payson & Co. grew its holdings in Watsco, Inc. (NYSE:WSO) by 83.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 410 shares of the construction company’s stock after buying an additional 186 shares during the period. HM Payson & Co.’s holdings in Watsco were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WSO. First Trust Direct Indexing L.P. lifted its stake in Watsco by 8.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock worth $929,000 after purchasing an additional 140 shares in the last quarter. abrdn plc increased its stake in shares of Watsco by 1.2% in the 3rd quarter. abrdn plc now owns 14,996 shares of the construction company’s stock worth $7,378,000 after acquiring an additional 172 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of Watsco by 1.8% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 6,555 shares of the construction company’s stock worth $3,223,000 after acquiring an additional 115 shares during the period. Autumn Glory Partners LLC boosted its position in shares of Watsco by 149.8% during the 3rd quarter. Autumn Glory Partners LLC now owns 1,369 shares of the construction company’s stock valued at $679,000 after acquiring an additional 821 shares during the last quarter. Finally, Semanteon Capital Management LP grew its holdings in shares of Watsco by 202.4% in the third quarter. Semanteon Capital Management LP now owns 2,313 shares of the construction company’s stock valued at $1,138,000 after purchasing an additional 1,548 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

Watsco stock opened at $474.05 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 36.63 and a beta of 0.88. The company’s 50 day simple moving average is $481.62 and its 200-day simple moving average is $475.41. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company earned $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Watsco, Inc. will post 13.28 earnings per share for the current year.

Watsco Dividend Announcement

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 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird lowered their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th.

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.