MCF Advisors LLC Grows Position in Watsco, Inc. (NYSE:WSO)

MCF Advisors LLC increased its position in Watsco, Inc. (NYSE:WSO) by 27.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115 shares of the construction company’s stock after buying an additional 25 shares during the quarter. MCF Advisors LLC’s holdings in Watsco were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC increased its position in shares of 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 period. Quarry LP purchased a new position in Watsco during the 2nd quarter valued at about $26,000. ORG Partners LLC bought a new position in Watsco during the 1st quarter valued at approximately $31,000. Tortoise Investment Management LLC lifted its holdings in Watsco by 76.2% in 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 period. Finally, Salomon & Ludwin LLC grew its position in shares of Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 0.5 %

Shares of NYSE WSO traded down $2.36 during mid-day trading on Friday, hitting $475.90. 141,261 shares of the stock traded hands, compared to its average volume of 290,810. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 36.61 and a beta of 0.88. The stock has a fifty day moving average price of $482.01 and a 200-day moving average price of $473.54. Watsco, Inc. has a 52 week low of $340.52 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 announced its 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 the consensus estimate of $2.24 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.35 EPS. Research analysts anticipate that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is 83.08%.

Analysts Set New Price Targets

WSO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday.

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.