Anchor Investment Management LLC Buys 190 Shares of Watsco, Inc. (NYSE:WSO)

Anchor Investment Management LLC increased its stake in Watsco, Inc. (NYSE:WSO) by 500.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228 shares of the construction company’s stock after buying an additional 190 shares during the period. Anchor Investment Management LLC’s holdings in Watsco were worth $112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its position in shares of Watsco by 14.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 548 shares of the construction company’s stock worth $254,000 after acquiring an additional 70 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Watsco by 24.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 664 shares of the construction company’s stock valued at $308,000 after buying an additional 131 shares in the last quarter. Blue Trust Inc. grew its position in shares of Watsco by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 220 shares of the construction company’s stock worth $95,000 after buying an additional 102 shares during the period. Gradient Investments LLC purchased a new position in Watsco during the 2nd quarter valued at about $108,000. Finally, Nisa Investment Advisors LLC boosted its stake in Watsco by 16.3% during the second quarter. Nisa Investment Advisors LLC now owns 18,540 shares of the construction company’s stock worth $8,588,000 after acquiring an additional 2,595 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Down 0.3 %

Shares of WSO opened at $509.78 on Friday. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The company has a market capitalization of $20.58 billion, a P/E ratio of 39.40 and a beta of 0.92. The firm has a 50 day moving average of $512.83 and a 200 day moving average of $490.84.

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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSO. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock.

Watsco 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.