Fmr LLC Has $1.78 Billion Stake in Watsco, Inc. (NYSE:WSO)

Fmr LLC lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 10.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,624,159 shares of the construction company’s stock after purchasing an additional 346,470 shares during the quarter. Fmr LLC owned 8.98% of Watsco worth $1,782,651,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in Watsco in the 2nd quarter valued at $26,000. EntryPoint Capital LLC raised its position in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the last quarter. Tortoise Investment Management LLC raised its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the last quarter. Ashton Thomas Securities LLC purchased 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 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

WSO stock opened at $550.50 on Wednesday. The company has a market capitalization of $22.23 billion, a price-to-earnings ratio of 42.54 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The stock has a fifty day moving average of $501.60 and a 200-day moving average of $485.95.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 EPS. Equities analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.96%. Watsco’s payout ratio is 83.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on WSO shares. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $491.25.

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.