Freemont Management S.A. Has $1.59 Million Holdings in Watsco, Inc. $WSO

Freemont Management S.A. lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,600 shares of the construction company’s stock after acquiring an additional 900 shares during the quarter. Freemont Management S.A.’s holdings in Watsco were worth $1,590,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. WPG Advisers LLC acquired a new position in Watsco during the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new position in Watsco in the 2nd quarter valued at $26,000. TCTC Holdings LLC raised its holdings in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after acquiring an additional 30 shares during the period. Chilton Capital Management LLC acquired a new position in Watsco during the 2nd quarter worth $34,000. Finally, Ransom Advisory Ltd bought a new stake in Watsco during the first quarter valued at about $45,000. 89.71% of the stock is owned by institutional investors.

Watsco Trading Up 0.2%

Shares of NYSE:WSO opened at $351.96 on Friday. Watsco, Inc. has a 1-year low of $344.52 and a 1-year high of $571.41. The firm has a market capitalization of $14.27 billion, a PE ratio of 27.50 and a beta of 0.93. The business’s 50 day moving average is $382.83 and its 200-day moving average is $425.98.

Watsco (NYSE:WSO) last issued its earnings results on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The business had revenue of $2.07 billion during the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. On average, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WSO shares. JPMorgan Chase & Co. dropped their price objective on Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Zacks Research downgraded Watsco from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 29th. Mizuho cut their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Morgan Stanley lowered their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Watsco presently has a consensus rating of “Hold” and an average price target of $435.00.

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.