Brown Brothers Harriman & Co. Boosts Stake in Watsco, Inc. (NYSE:WSO)

Brown Brothers Harriman & Co. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 29.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,763 shares of the construction company’s stock after acquiring an additional 27,215 shares during the period. Brown Brothers Harriman & Co. owned about 0.29% of Watsco worth $58,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP acquired a new stake in Watsco during the 2nd quarter valued at approximately $26,000. EntryPoint Capital LLC grew its position in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares in the last quarter. Tortoise Investment Management LLC grew 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 buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Watsco in the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

NYSE WSO opened at $554.79 on Monday. Watsco, Inc. has a one year low of $373.33 and a one year high of $555.42. The company has a 50-day simple moving average of $499.99 and a 200-day simple moving average of $485.27. The firm has a market capitalization of $22.40 billion, a PE ratio of 42.87 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.35 EPS. Equities 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 given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco’s dividend payout ratio is currently 83.46%.

Analysts Set New Price Targets

WSO has been the subject of several recent analyst reports. Northcoast Research assumed coverage on shares of Watsco in a report on Friday. They set a “neutral” rating for the company. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $491.25.

Watsco Company 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.