The Manufacturers Life Insurance Company Boosts Holdings in Watsco, Inc. (NYSE:WSO)

The Manufacturers Life Insurance Company raised its stake in Watsco, Inc. (NYSE:WSO) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,759 shares of the construction company’s stock after acquiring an additional 623 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Watsco worth $11,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in Watsco by 168.8% in the first quarter. Janus Henderson Group PLC now owns 2,075 shares of the construction company’s stock worth $895,000 after buying an additional 1,303 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Watsco in the first quarter valued at approximately $214,000. Cetera Investment Advisers lifted its stake in shares of Watsco by 209.4% during the 1st quarter. Cetera Investment Advisers now owns 8,379 shares of the construction company’s stock valued at $3,619,000 after buying an additional 5,671 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Watsco by 22.9% in the 1st quarter. Cetera Advisors LLC now owns 4,603 shares of the construction company’s stock worth $1,988,000 after buying an additional 857 shares during the period. Finally, GAMMA Investing LLC grew its stake in Watsco by 38.8% in the 2nd quarter. GAMMA Investing LLC now owns 358 shares of the construction company’s stock valued at $166,000 after buying an additional 100 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

WSO has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Stock Performance

Watsco stock opened at $543.54 on Tuesday. The stock has a market cap of $21.95 billion, a P/E ratio of 42.66 and a beta of 0.92. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm’s fifty day moving average price is $506.47 and its 200-day moving average price is $487.96.

Watsco (NYSE:WSO) last issued 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). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.35 EPS. Sell-side analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

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.