Watsco, Inc. (NYSE:WSO) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 42.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,872 shares of the construction company’s stock after selling 5,788 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Watsco were worth $3,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MetLife Investment Management LLC boosted its stake in Watsco by 6.4% during the 3rd quarter. MetLife Investment Management LLC now owns 17,978 shares of the construction company’s stock worth $8,843,000 after purchasing an additional 1,075 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Watsco by 21.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 2,820 shares of the construction company’s stock valued at $1,387,000 after acquiring an additional 499 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Watsco during the 3rd quarter valued at about $1,608,000. Blueshift Asset Management LLC acquired a new position in shares of Watsco during the 3rd quarter valued at about $241,000. Finally, Cynosure Group LLC boosted its position in shares of Watsco by 5.0% during the 3rd quarter. Cynosure Group LLC now owns 860 shares of the construction company’s stock valued at $423,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the topic of several recent research reports. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $491.25.

Watsco Trading Up 0.8 %

Shares of WSO opened at $554.67 on Friday. The firm has a market cap of $22.40 billion, a P/E ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The company’s 50-day moving average price is $504.14 and its 200 day moving average price is $486.93.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion during 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 firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.35 earnings per share. Equities research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.95%. Watsco’s dividend payout ratio (DPR) 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.