Pathstone Holdings LLC Has $5.07 Million Holdings in Watsco, Inc. (NYSE:WSO)

Pathstone Holdings LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 4.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,298 shares of the construction company’s stock after buying an additional 409 shares during the period. Pathstone Holdings LLC’s holdings in Watsco were worth $5,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSO. EntryPoint Capital LLC increased its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the last quarter. Quarry LP acquired a new position in shares of Watsco during the 2nd quarter worth $26,000. Tortoise Investment Management LLC lifted its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Watsco in the third quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV grew its position 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 during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE:WSO opened at $554.60 on Friday. Watsco, Inc. has a one year low of $373.33 and a one year high of $555.42. The company has a market cap of $22.39 billion, a PE ratio of 42.86 and a beta of 0.88. The firm’s 50 day simple moving average is $499.99 and its 200 day simple moving average is $485.04.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.35 EPS. Equities research analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.95%. Watsco’s payout ratio is 83.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Northcoast Research started coverage on shares of Watsco in a research report on Friday. They issued a “neutral” rating on the stock. Finally, Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $491.25.

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.