Brooklyn Investment Group Acquires Shares of 98 Watsco, Inc. (NYSE:WSO)

Brooklyn Investment Group acquired a new stake in Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 98 shares of the construction company’s stock, valued at approximately $48,000.

Several other institutional investors have also recently bought and sold shares of the business. J. W. Coons Advisors LLC raised its position in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 20 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the last quarter. CWM LLC raised its position in shares of Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the last quarter. MCF Advisors LLC raised its position in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the last quarter. Finally, Equitable Trust Co. raised its position in shares of Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.6 %

NYSE WSO opened at $551.60 on Friday. The stock has a 50-day simple moving average of $505.23 and a 200 day simple moving average of $487.40. The company has a market capitalization of $22.27 billion, a PE ratio of 42.63 and a beta of 0.88. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco (NYSE:WSO) last released 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 net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $4.35 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid 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 yield of 1.96%. Watsco’s payout ratio is 83.46%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WSO. Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set 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. Based on data from MarketBeat, Watsco has an average rating of “Moderate Buy” and an average target price 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.