539 Shares in Watsco, Inc. (NYSE:WSO) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 539 shares of the construction company’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. Citizens Financial Group Inc. RI lifted its holdings in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after acquiring an additional 929 shares during the last quarter. Larson Financial Group LLC raised its position in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after purchasing an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after purchasing an additional 1,074 shares during the last quarter. Markel Group Inc. boosted its holdings in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock worth $264,626,000 after purchasing an additional 5,000 shares during the period. Finally, Interval Partners LP bought a new position in shares of Watsco during the 2nd quarter valued at approximately $11,740,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE WSO opened at $509.78 on Friday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 39.40 and a beta of 0.92. The business’s 50 day moving average price is $512.83 and its 200-day moving average price is $490.84.

Watsco (NYSE:WSO) last released its 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 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business earned $4.35 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued 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 2.12%. Watsco’s payout ratio is 83.46%.

Analyst Ratings Changes

A number of analysts recently issued reports on WSO shares. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

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.