Watsco, Inc. (NYSE:WSO) Shares Bought by Geneva Capital Management LLC

Geneva Capital Management LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,021 shares of the construction company’s stock after acquiring an additional 2,793 shares during the period. Geneva Capital Management LLC owned 0.17% of Watsco worth $33,458,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Watsco by 39.8% during the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock worth $1,059,000 after purchasing an additional 698 shares during the period. Russell Investments Group Ltd. grew its holdings in Watsco by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock valued at $7,246,000 after buying an additional 320 shares during the period. William Blair Investment Management LLC increased its stake in shares of Watsco by 6.2% during the 1st quarter. William Blair Investment Management LLC now owns 66,966 shares of the construction company’s stock valued at $28,927,000 after acquiring an additional 3,881 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Watsco in the first quarter worth approximately $527,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Watsco in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.7 %

Shares of NYSE WSO opened at $533.36 on Wednesday. The stock has a fifty day moving average price of $487.73 and a 200 day moving average price of $480.99. Watsco, Inc. has a 12-month low of $372.63 and a 12-month high of $540.23. The company has a market cap of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS 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 analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.35 earnings per share. On average, sell-side analysts forecast that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. Watsco’s payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WSO shares. JPMorgan Chase & Co. boosted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

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.