Dynamic Technology Lab Private Ltd Raises Position in Watsco, Inc. (NYSE:WSO)

Dynamic Technology Lab Private Ltd lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 20.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,721 shares of the construction company’s stock after acquiring an additional 454 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Watsco were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. EntryPoint Capital LLC grew its stake in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. Quarry LP purchased a new position in shares of Watsco in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC boosted its stake in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Watsco during the third quarter worth about $43,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WSO shares. Robert W. Baird decreased their price target 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. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Stock Down 3.2 %

Shares of Watsco stock opened at $550.50 on Wednesday. The firm has a market capitalization of $22.23 billion, a P/E ratio of 42.54 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The firm’s 50 day moving average is $501.60 and its two-hundred day moving average is $485.95.

Watsco (NYSE:WSO) last announced its quarterly 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). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $4.35 earnings per share. Watsco’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.96%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Watsco Profile

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.