Watsco, Inc. (NYSE:WSO) Shares Acquired by Hamlin Capital Management LLC

Hamlin Capital Management LLC boosted its holdings in Watsco, Inc. (NYSE:WSO) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,543 shares of the construction company’s stock after purchasing an additional 21,649 shares during the quarter. Watsco makes up 3.9% of Hamlin Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Hamlin Capital Management LLC owned approximately 0.78% of Watsco worth $154,717,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Mattern Capital Management LLC increased its stake in shares of Watsco by 10.5% during the 3rd quarter. Mattern Capital Management LLC now owns 1,109 shares of the construction company’s stock valued at $545,000 after acquiring an additional 105 shares during the last quarter. MCF Advisors LLC boosted its position in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Watsco by 19.5% in the third quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock valued at $317,000 after purchasing an additional 105 shares during the period. Forsta AP Fonden increased its position in Watsco by 9.9% during the third quarter. Forsta AP Fonden now owns 7,800 shares of the construction company’s stock worth $3,837,000 after purchasing an additional 700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Watsco by 14.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,697 shares of the construction company’s stock worth $9,769,000 after purchasing an additional 2,527 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Watsco Trading Down 0.5 %

Shares of WSO stock opened at $475.90 on Friday. Watsco, Inc. has a fifty-two week low of $340.52 and a fifty-two week high of $520.41. The firm’s 50 day moving average price is $482.01 and its two-hundred day moving average price is $473.79. The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 36.61 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last announced its quarterly 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 18.55% and a net margin of 7.02%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $4.35 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts anticipate that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s payout ratio is currently 83.08%.

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.