Conestoga Capital Advisors LLC Has $47.48 Million Holdings in Watsco, Inc. (NYSE:WSO)

Conestoga Capital Advisors LLC lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,532 shares of the construction company’s stock after buying an additional 823 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.24% of Watsco worth $47,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WSO. Jennison Associates LLC lifted its stake in Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after buying an additional 62,593 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Watsco in the first quarter worth about $822,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Watsco by 256.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock worth $1,510,000 after acquiring an additional 2,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Watsco in the first quarter valued at approximately $491,000. Finally, Nordea Investment Management AB increased its position in Watsco by 22.3% during the 1st quarter. Nordea Investment Management AB now owns 135,621 shares of the construction company’s stock valued at $59,020,000 after purchasing an additional 24,696 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on WSO. JPMorgan Chase & Co. increased their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

Watsco Stock Performance

WSO traded down $0.36 during trading hours on Friday, hitting $472.65. The stock had a trading volume of 28,886 shares, compared to its average volume of 287,061. The company has a quick ratio of 1.65, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.07 billion, a PE ratio of 36.58 and a beta of 0.88. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41. The company’s fifty day simple moving average is $481.85 and its 200 day simple moving average is $474.98.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Watsco, Inc. will post 13.43 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.46%.

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.