Connor Clark & Lunn Investment Management Ltd. Sells 12,101 Shares of Watsco, Inc. (NYSE:WSO)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 34.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,699 shares of the construction company’s stock after selling 12,101 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Watsco were worth $11,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WSO. O Shaughnessy Asset Management LLC lifted its holdings in Watsco by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,633 shares of the construction company’s stock valued at $705,000 after purchasing an additional 401 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Watsco by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the construction company’s stock worth $216,000 after buying an additional 200 shares during the period. Bessemer Group Inc. grew its stake in Watsco by 159.0% in the 1st quarter. Bessemer Group Inc. now owns 202 shares of the construction company’s stock valued at $87,000 after buying an additional 124 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Watsco in the 1st quarter valued at about $491,000. Finally, EntryPoint Capital LLC lifted its position in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WSO. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Trading Up 2.6 %

Shares of NYSE:WSO opened at $547.29 on Friday. The firm has a 50 day moving average of $498.42 and a 200-day moving average of $484.47. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $549.74. The stock has a market capitalization of $22.10 billion, a PE ratio of 42.29 and a beta of 0.88.

Watsco (NYSE:WSO) last released its 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous 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. On average, research analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.97%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

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.