Arcadia Investment Management Corp MI Has $9.39 Million Holdings in Watsco, Inc. (NYSE:WSO)

Arcadia Investment Management Corp MI cut its holdings in Watsco, Inc. (NYSE:WSO) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,097 shares of the construction company’s stock after selling 780 shares during the quarter. Watsco makes up 1.5% of Arcadia Investment Management Corp MI’s holdings, making the stock its 24th biggest holding. Arcadia Investment Management Corp MI’s holdings in Watsco were worth $9,393,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Princeton Global Asset Management LLC boosted its stake in Watsco by 1.6% in the third quarter. Princeton Global Asset Management LLC now owns 18,385 shares of the construction company’s stock valued at $9,043,000 after buying an additional 281 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Watsco by 0.9% in the third quarter. Conestoga Capital Advisors LLC now owns 96,532 shares of the construction company’s stock valued at $47,482,000 after buying an additional 823 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Watsco by 6.9% during the third quarter. Stephens Inc. AR now owns 902 shares of the construction company’s stock valued at $444,000 after purchasing an additional 58 shares in the last quarter. HM Payson & Co. boosted its stake in shares of Watsco by 83.0% during the third quarter. HM Payson & Co. now owns 410 shares of the construction company’s stock valued at $202,000 after purchasing an additional 186 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Watsco by 8.0% during the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock valued at $929,000 after purchasing an additional 140 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Watsco Stock Performance

Shares of WSO stock opened at $474.00 on Friday. The business’s 50-day moving average price is $481.62 and its 200-day moving average price is $475.41. Watsco, Inc. has a 12 month low of $359.59 and a 12 month high of $520.41. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 36.63 and a beta of 0.88. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last issued its quarterly earnings data 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business earned $4.35 earnings per share. Watsco’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Watsco, Inc. will post 13.28 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. Watsco’s payout ratio is currently 83.46%.

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.