458 Shares in Watsco, Inc. (NYSE:WSO) Bought by IHT Wealth Management LLC

IHT Wealth Management LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 458 shares of the construction company’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC raised its position in shares of Watsco by 10.6% during the third 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 during the last quarter. International Assets Investment Management LLC increased its position in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after purchasing an additional 233,167 shares during the period. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Watsco by 5.2% in 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 purchasing an additional 62,041 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Watsco by 29.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 118,763 shares of the construction company’s stock valued at $58,417,000 after purchasing an additional 27,215 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSO. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

Watsco Stock Down 0.9 %

Watsco stock opened at $517.45 on Wednesday. The company has a market capitalization of $20.89 billion, a PE ratio of 39.99 and a beta of 0.92. The firm’s fifty day moving average is $511.28 and its 200 day moving average is $490.39. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.35 EPS. Sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 annualized dividend and a yield of 2.09%. Watsco’s payout ratio 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.