Watsco, Inc. (NYSE:WSO) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its holdings in Watsco, Inc. (NYSE:WSO) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,168 shares of the construction company’s stock after buying an additional 473 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Watsco were worth $8,936,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank increased its stake in shares of Watsco by 5.0% in the third quarter. Amalgamated Bank now owns 17,128 shares of the construction company’s stock worth $8,425,000 after acquiring an additional 809 shares during the period. QRG Capital Management Inc. boosted its holdings in Watsco by 12.5% in the third quarter. QRG Capital Management Inc. now owns 1,145 shares of the construction company’s stock valued at $563,000 after purchasing an additional 127 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Watsco by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 12,168 shares of the construction company’s stock worth $5,985,000 after purchasing an additional 137 shares during the period. Van ECK Associates Corp raised its stake in shares of Watsco by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 6,570 shares of the construction company’s stock valued at $3,064,000 after buying an additional 652 shares during the last quarter. Finally, Confluence Wealth Services Inc. lifted its holdings in shares of Watsco by 5.5% in the 3rd quarter. Confluence Wealth Services Inc. now owns 2,289 shares of the construction company’s stock valued at $1,125,000 after buying an additional 120 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Up 2.1 %

NYSE WSO opened at $487.88 on Wednesday. The stock has a market capitalization of $19.68 billion, a price-to-earnings ratio of 37.70 and a beta of 0.88. The stock has a 50-day moving average of $481.53 and a 200 day moving average of $476.88. Watsco, Inc. has a twelve month low of $362.07 and a twelve month high of $520.41.

Watsco (NYSE:WSO) last released its 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 company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 13.28 EPS for the current fiscal year.

Watsco Dividend Announcement

The company 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. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.21%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WSO shares. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted 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.

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.