Watsco, Inc. (NYSE:WSO) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 16.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,510 shares of the construction company’s stock after purchasing an additional 347 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Watsco were worth $1,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Baker Avenue Asset Management LP acquired a new stake in shares of Watsco in the third quarter worth approximately $626,000. Assetmark Inc. grew its stake in Watsco by 6.4% during the third quarter. Assetmark Inc. now owns 612 shares of the construction company’s stock worth $301,000 after buying an additional 37 shares during the period. Markel Group Inc. boosted its position in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after purchasing an additional 11,250 shares during the period. Equitable Trust Co. raised its position in Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock valued at $574,000 after purchasing an additional 25 shares during the period. Finally, Olympiad Research LP purchased a new stake in shares of Watsco during the 3rd quarter valued at about $252,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of recent analyst reports. 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 report on Wednesday, July 31st. Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Price Performance

WSO opened at $543.06 on Thursday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $545.49. The stock has a market capitalization of $21.93 billion, a PE ratio of 41.97 and a beta of 0.88. The firm’s fifty day moving average price is $489.51 and its 200 day moving average price is $481.42.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business posted $4.35 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that Watsco, Inc. will post 13.2 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 annualized dividend and a yield of 1.99%. Watsco’s payout ratio is 83.46%.

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.