Healthcare of Ontario Pension Plan Trust Fund Takes $1.61 Million Position in Watsco, Inc. (NYSE:WSO)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Watsco, Inc. (NYSE:WSO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,270 shares of the construction company’s stock, valued at approximately $1,608,000.

Several other institutional investors also recently modified their holdings of WSO. Blueshift Asset Management LLC bought a new position in Watsco during the 3rd quarter worth $241,000. Cynosure Group LLC increased its stake in shares of Watsco by 5.0% in the third quarter. Cynosure Group LLC now owns 860 shares of the construction company’s stock valued at $423,000 after buying an additional 41 shares during the period. Townsquare Capital LLC raised its position in shares of Watsco by 2.7% during the third quarter. Townsquare Capital LLC now owns 23,769 shares of the construction company’s stock worth $11,687,000 after acquiring an additional 631 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Watsco by 32.4% in the third quarter. BNP Paribas Financial Markets now owns 20,585 shares of the construction company’s stock worth $10,125,000 after acquiring an additional 5,034 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Watsco in the third quarter valued at approximately $48,000. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

WSO has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Northcoast Research started coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $491.25.

Watsco Stock Performance

Watsco stock opened at $551.60 on Monday. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 42.63 and a beta of 0.88. The stock’s 50 day moving average price is $506.47 and its two-hundred day moving average price is $487.92. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $4.35 EPS. On average, equities research analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. Watsco’s dividend payout ratio is presently 83.46%.

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.