Intrepid Capital Management Inc. Acquires 3,521 Shares of Watsco, Inc. (NYSE:WSO)

Intrepid Capital Management Inc. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 455.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,294 shares of the construction company’s stock after acquiring an additional 3,521 shares during the period. Watsco comprises approximately 1.2% of Intrepid Capital Management Inc.’s holdings, making the stock its 28th largest position. Intrepid Capital Management Inc.’s holdings in Watsco were worth $2,112,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WSO. J. W. Coons Advisors LLC boosted its holdings in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after buying an additional 20 shares during the period. Massmutual Trust Co. FSB ADV boosted 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 worth $46,000 after buying an additional 22 shares during the period. CWM LLC boosted its holdings in Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares during the period. MCF Advisors LLC boosted its holdings 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. Finally, Equitable Trust Co. boosted its holdings in Watsco by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after buying an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.0 %

WSO stock traded up $0.18 during mid-day trading on Tuesday, hitting $543.35. The company had a trading volume of 4,159 shares, compared to its average volume of 279,786. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 42.00 and a beta of 0.92. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The company has a 50-day moving average price of $506.47 and a 200 day moving average price of $487.96.

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 analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.35 EPS. As a group, analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two investment 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 a consensus rating of “Moderate Buy” and an average 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.