Oddo BHF Asset Management Sas Purchases New Holdings in Watsco, Inc. (NYSE:WSO)

Oddo BHF Asset Management Sas acquired a new position in Watsco, Inc. (NYSE:WSO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,707 shares of the construction company’s stock, valued at approximately $1,332,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. grew its position in Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after acquiring an additional 62,041 shares during the last quarter. State Street Corp increased its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares during the period. Blair William & Co. IL increased its stake in Watsco by 1.2% in the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after purchasing an additional 9,141 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WSO shares. Robert W. Baird reduced their price target 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. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock.

Watsco Trading Down 0.3 %

Shares of WSO stock opened at $509.78 on Friday. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 39.40 and a beta of 0.92. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41. The stock has a fifty day simple moving average of $512.83 and a two-hundred day simple moving average of $490.84.

Watsco (NYSE:WSO) last released its quarterly earnings data 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 business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $4.35 earnings per share. Research 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 paid a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. Watsco’s dividend payout ratio is presently 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.