Conestoga Capital Advisors LLC decreased its stake in Watsco, Inc. (NYSE:WSO – Free Report) by 30.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 56,013 shares of the construction company’s stock after selling 24,962 shares during the period. Conestoga Capital Advisors LLC’s holdings in Watsco were worth $16,955,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of WSO. Kestra Private Wealth Services LLC boosted its position in shares of Watsco by 28.6% during the third quarter. Kestra Private Wealth Services LLC now owns 1,084 shares of the construction company’s stock worth $328,000 after buying an additional 241 shares during the period. Markel Group Inc. lifted its position in Watsco by 4.2% in the third quarter. Markel Group Inc. now owns 623,010 shares of the construction company’s stock worth $188,579,000 after purchasing an additional 25,260 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in shares of Watsco in the third quarter valued at $71,000. Integrity Alliance LLC. boosted its position in shares of Watsco by 44.8% during the 3rd quarter. Integrity Alliance LLC. now owns 766 shares of the construction company’s stock valued at $232,000 after purchasing an additional 237 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Watsco by 2.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 7,395 shares of the construction company’s stock worth $2,238,000 after buying an additional 200 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.
Watsco Stock Performance
Watsco stock opened at $319.06 on Thursday. The business’s 50-day simple moving average is $306.25 and its 200-day simple moving average is $364.81. The firm has a market capitalization of $13.16 billion, a PE ratio of 28.19 and a beta of 1.03. Watsco, Inc. has a 52 week low of $277.34 and a 52 week high of $459.00.
Watsco (NYSE:WSO – Get Free Report) last announced its earnings results on Tuesday, October 27th. The construction company reported $3.77 earnings per share for the quarter, missing the consensus estimate of $4.10 by ($0.33). Watsco had a net margin of 6.31% and a return on equity of 13.97%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company earned $3.98 EPS. Watsco’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts forecast that Watsco, Inc. will post 11.70 earnings per share for the current year.
Watsco Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 16th were given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, October 16th. Watsco’s payout ratio is currently 116.61%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on WSO shares. Robert W. Baird set a $400.00 price target on Watsco in a research note on Thursday, July 30th. Weiss Ratings lowered Watsco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 21st. Morgan Stanley reduced their price target on Watsco from $370.00 to $330.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Finally, Mizuho decreased their price objective on shares of Watsco from $350.00 to $325.00 and set a “neutral” rating for the company in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $373.62.
Check Out Our Latest Stock Report on WSO
About Watsco
Watsco, Inc (NYSE: WSO) is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and light commercial air-conditioning and heating systems, refrigeration equipment, replacement parts, and other supplies used by contractors and service professionals.
Watsco distributes products from leading HVAC/R manufacturers, including equipment and components such as air conditioners, heat pumps, furnaces, air handlers, thermostats, controls, motors and indoor air-quality products.
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