Watsco, Inc. (NYSE:WSO) Stock Position Increased by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 14.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,147 shares of the construction company’s stock after buying an additional 15,700 shares during the quarter. King Luther Capital Management Corp owned 0.30% of Watsco worth $60,081,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Watsco in the second quarter worth approximately $26,000. EntryPoint Capital LLC grew its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the third quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its position 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 during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WSO has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target 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 reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Watsco Stock Up 0.0 %

Shares of WSO stock opened at $533.40 on Thursday. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $545.49. The firm has a market cap of $21.54 billion, a PE ratio of 41.22 and a beta of 0.88. The stock has a 50 day moving average of $496.90 and a 200-day moving average of $484.03.

Watsco (NYSE:WSO) last issued 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). The company 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% on a year-over-year basis. During the same period last year, the company earned $4.35 earnings per share. As a group, equities analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s payout ratio is 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.