Great Valley Advisor Group Inc. Acquires 2,816 Shares of Watsco, Inc. (NYSE:WSO)

Great Valley Advisor Group Inc. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 47.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,793 shares of the construction company’s stock after purchasing an additional 2,816 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Watsco were worth $4,324,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its stake in 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 last quarter. Quarry LP purchased a new position in Watsco in the second quarter valued at approximately $26,000. Tortoise Investment Management LLC grew its holdings in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Watsco in the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $554.79 on Friday. The business’s fifty day moving average is $499.99 and its 200 day moving average is $485.16. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $555.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company earned $4.35 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.46%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WSO shares. JPMorgan Chase & Co. increased 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 reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research note on Friday. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $491.25.

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.