Tidal Investments LLC Buys 69 Shares of Watsco, Inc. (NYSE:WSO)

Tidal Investments LLC grew its stake in Watsco, Inc. (NYSE:WSO) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,269 shares of the construction company’s stock after purchasing an additional 69 shares during the quarter. Tidal Investments LLC’s holdings in Watsco were worth $1,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in Watsco by 32.2% in the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after buying an additional 1,038 shares during the period. Citizens Financial Group Inc. RI raised its position 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 worth $1,582,000 after acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Watsco by 3,571.0% in the 3rd 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. boosted its position in shares of Watsco by 1.7% during the third 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 in the last quarter. Finally, Markel Group Inc. grew its stake in Watsco by 0.9% in the second 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. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on WSO. Robert W. Baird lowered their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company.

Watsco Trading Down 0.5 %

Shares of NYSE:WSO opened at $485.59 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of 37.53 and a beta of 0.92. The stock has a fifty day simple moving average of $513.33 and a two-hundred day simple moving average of $491.45.

Watsco (NYSE:WSO) last announced its quarterly 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts predict that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The company also recently declared 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 2.22%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.86% of the stock is owned by insiders.

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.