William Blair Investment Management LLC Has $30.14 Million Holdings in Watsco, Inc. (NYSE:WSO)

William Blair Investment Management LLC reduced its holdings in Watsco, Inc. (NYSE:WSO) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,067 shares of the construction company’s stock after selling 1,899 shares during the quarter. William Blair Investment Management LLC’s holdings in Watsco were worth $30,142,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WSO. Norges Bank acquired a new position in Watsco during the 4th quarter worth $102,958,000. Motley Fool Asset Management LLC lifted its holdings in Watsco by 263.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock worth $138,234,000 after buying an additional 231,987 shares in the last quarter. Swedbank AB acquired a new position in Watsco during the 1st quarter worth $90,714,000. Vanguard Group Inc. lifted its holdings in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after buying an additional 146,305 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Watsco by 50.9% during the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after buying an additional 62,593 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $476.71 on Monday. The firm has a fifty day moving average of $478.11 and a two-hundred day moving average of $458.65. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of 36.67 and a beta of 0.88. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company earned $4.42 EPS. Watsco’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WSO shares. Robert W. Baird upped their price objective on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $433.71.

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.