Crossmark Global Holdings Inc. Buys New Position in Watsco, Inc. (WSO)
Crossmark Global Holdings Inc. bought a new position in Watsco, Inc. (NYSE:WSO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,909 shares of the construction company’s stock, valued at approximately $630,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Watsco by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock worth $383,810,000 after acquiring an additional 34,943 shares during the last quarter. FMR LLC raised its stake in shares of Watsco by 10.7% in the second quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock worth $157,826,000 after acquiring an additional 99,041 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Watsco by 54.7% in the second quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock worth $134,994,000 after acquiring an additional 309,675 shares during the last quarter. State Street Corp raised its stake in shares of Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock worth $123,247,000 after acquiring an additional 50,751 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Watsco by 198.9% in the second quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock worth $116,205,000 after acquiring an additional 501,450 shares during the last quarter. 81.10% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on WSO shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 target price (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $163.00 target price on shares of Watsco in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub raised shares of Watsco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $154.00 target price on shares of Watsco in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Watsco currently has an average rating of “Hold” and an average target price of $160.40.
Shares of Watsco, Inc. (NYSE WSO) opened at $164.19 on Thursday. Watsco, Inc. has a 1 year low of $134.08 and a 1 year high of $167.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.42 and a current ratio of 3.13. The company has a market cap of $5,868.31, a P/E ratio of 30.58 and a beta of 0.83.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.13). Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. research analysts expect that Watsco, Inc. will post 5.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, October 13th. Watsco’s dividend payout ratio is 92.42%.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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