Huntington National Bank Has $366,000 Stock Position in Watsco, Inc. (NYSE:WSO)

Huntington National Bank lessened its stake in Watsco, Inc. (NYSE:WSO) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 745 shares of the construction company’s stock after selling 88 shares during the quarter. Huntington National Bank’s holdings in Watsco were worth $366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in shares of Watsco in the 2nd quarter valued at approximately $26,000. EntryPoint Capital LLC increased its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the last quarter. Tortoise Investment Management LLC raised its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Watsco during the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Watsco Stock Performance

Shares of WSO opened at $520.74 on Friday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $545.49. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 40.24 and a beta of 0.88. The stock has a fifty day moving average of $492.47 and a 200-day moving average of $482.48.

Watsco (NYSE:WSO) last posted 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 the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.35 earnings per share. As a group, equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.07%. 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.