Curi RMB Capital LLC Purchases 1,810 Shares of Watsco, Inc. (NYSE:WSO)

Curi RMB Capital LLC lifted its stake in Watsco, Inc. (NYSE:WSO) by 2.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 78,604 shares of the construction company’s stock after buying an additional 1,810 shares during the period. Watsco comprises approximately 0.9% of Curi RMB Capital LLC’s portfolio, making the stock its 28th biggest holding. Curi RMB Capital LLC’s holdings in Watsco were worth $38,664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WSO. SG Americas Securities LLC grew its holdings in Watsco by 39.8% during the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock worth $1,059,000 after acquiring an additional 698 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Watsco by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock valued at $7,246,000 after acquiring an additional 320 shares during the period. Entropy Technologies LP bought a new stake in Watsco during the 1st quarter worth approximately $527,000. Koshinski Asset Management Inc. bought a new stake in Watsco in the 1st quarter valued at $230,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Watsco by 15.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,215 shares of the construction company’s stock worth $7,868,000 after buying an additional 2,373 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on WSO shares. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Trading Up 1.8 %

WSO opened at $543.06 on Thursday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49. The company has a market cap of $21.93 billion, a P/E ratio of 41.97 and a beta of 0.88. The company’s 50 day moving average is $489.51 and its 200-day moving average is $481.42.

Watsco (NYSE:WSO) last released its quarterly 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $4.35 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Watsco, Inc. will post 13.2 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend 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.