Cerity Partners LLC Has $5.23 Million Position in Watsco, Inc. (NYSE:WSO)

Cerity Partners LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 90.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,632 shares of the construction company’s stock after purchasing an additional 5,036 shares during the period. Cerity Partners LLC’s holdings in Watsco were worth $5,230,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Watsco in the 2nd quarter worth $26,000. Tortoise Investment Management LLC grew its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter valued at about $43,000. Massmutual Trust Co. FSB ADV raised its holdings in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird dropped their price objective 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Watsco has an average rating of “Moderate Buy” and an average price target of $491.25.

Watsco Price Performance

Watsco stock opened at $554.67 on Friday. The business has a 50 day simple moving average of $504.14 and a 200 day simple moving average of $486.93. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company has a market capitalization of $22.40 billion, a PE ratio of 42.86 and a beta of 0.88.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 EPS. Equities analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently announced 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 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 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.