Blueshift Asset Management LLC Invests $241,000 in Watsco, Inc. (NYSE:WSO)

Blueshift Asset Management LLC purchased a new position in Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 490 shares of the construction company’s stock, valued at approximately $241,000.

Several other hedge funds have also recently modified their holdings of WSO. FMR LLC raised its stake in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after acquiring an additional 62,041 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after acquiring an additional 9,141 shares in the last quarter. Markel Group Inc. boosted its stake in Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after purchasing an additional 11,250 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock worth $182,068,000 after buying an additional 6,320 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.6 %

Shares of WSO opened at $551.60 on Friday. The stock’s 50-day moving average price is $505.23 and its 200-day moving average price is $487.40. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 42.63 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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 period in the previous year, the business earned $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Watsco currently has a consensus rating of “Moderate Buy” and an average price target of $491.25.

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.