Watsco, Inc. $WSO Shares Purchased by Pembroke Management LTD

Pembroke Management LTD boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 31.5% in the third quarter, HoldingsChannel.com reports. The fund owned 70,182 shares of the construction company’s stock after buying an additional 16,825 shares during the quarter. Watsco comprises about 2.8% of Pembroke Management LTD’s investment portfolio, making the stock its 14th biggest holding. Pembroke Management LTD’s holdings in Watsco were worth $28,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Watsco by 8.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 10,319 shares of the construction company’s stock worth $4,172,000 after purchasing an additional 800 shares in the last quarter. Applied Capital LLC FL grew its holdings in Watsco by 0.5% during the 3rd quarter. Applied Capital LLC FL now owns 6,993 shares of the construction company’s stock valued at $2,827,000 after buying an additional 36 shares during the last quarter. Obermeyer Wealth Partners increased its position in Watsco by 3.4% during the third quarter. Obermeyer Wealth Partners now owns 5,671 shares of the construction company’s stock worth $2,293,000 after buying an additional 187 shares in the last quarter. Financial Network Wealth Advisors LLC raised its holdings in shares of Watsco by 15.0% in the third quarter. Financial Network Wealth Advisors LLC now owns 330 shares of the construction company’s stock worth $133,000 after acquiring an additional 43 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Watsco by 7.9% in the third quarter. Nordea Investment Management AB now owns 57,303 shares of the construction company’s stock valued at $22,977,000 after acquiring an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

WSO opened at $381.78 on Friday. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $535.40. The business has a 50-day moving average of $349.42 and a two-hundred day moving average of $389.90. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 29.83 and a beta of 1.03.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The business had revenue of $2.07 billion for the quarter. Equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, January 16th. Watsco’s dividend payout ratio (DPR) is 93.75%.

Wall Street Analyst Weigh In

A number of research firms recently commented on WSO. Morgan Stanley dropped their price objective on Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. William Blair reissued a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. Finally, Mizuho decreased their target price on shares of Watsco from $400.00 to $370.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $404.14.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.