Oak Ridge Investments LLC Cuts Position in Watsco, Inc. (NYSE:WSO)

by · The Markets Daily

Oak Ridge Investments LLC trimmed its position in Watsco, Inc. (NYSE:WSO – Free Report) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,936 shares of the construction company’s stock after selling 26 shares during the quarter. Oak Ridge Investments LLC’s holdings in Watsco were worth $952,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WSO. Vanguard Group Inc. grew its stake in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after buying an additional 146,305 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Watsco by 1.2% in the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock valued at $371,126,000 after buying an additional 9,141 shares in the last quarter. Markel Group Inc. grew its stake in shares of Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after buying an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock valued at $182,068,000 after buying an additional 6,320 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after buying an additional 231,987 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WSO has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on 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 lowered their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

View Our Latest Stock Analysis on Watsco

Watsco Price Performance

Shares of NYSE WSO opened at $474.05 on Friday. Watsco, Inc. has a fifty-two week low of $359.59 and a fifty-two week high of $520.41. The business has a 50 day moving average price of $481.62 and a two-hundred day moving average price of $475.41. 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 firm has a market cap of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88.

Watsco (NYSE:WSO – Get Free Report) last issued 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s 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 EPS. Sell-side analysts expect that Watsco, Inc. will post 13.28 earnings per share 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 $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.28%. Watsco’s payout ratio is 83.46%.

Watsco Company Profile

(Free Report)

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.

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