Brooklyn Investment Group Makes New $48,000 Investment in Watsco, Inc. (NYSE:WSO)

Brooklyn Investment Group purchased a new position in Watsco, Inc. (NYSE:WSO) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 98 shares of the construction company’s stock, valued at approximately $48,000.

Several other institutional investors also recently added to or reduced their stakes in WSO. Quarry LP bought a new position in Watsco in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC increased its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV increased its position in Watsco by 30.6% in the 3rd 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. Finally, MCF Advisors LLC increased its position in 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 buying an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of WSO stock opened at $551.60 on Friday. The stock’s fifty day simple moving average is $505.23 and its 200 day simple moving average is $487.40. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 42.63 and a beta of 0.88. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41.

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). The company 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%. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.35 EPS. On average, research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.96%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WSO. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $491.25.

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.