Great Lakes Advisors LLC Takes $310,000 Position in Watsco, Inc. (NYSE:WSO)

Great Lakes Advisors LLC purchased a new stake in Watsco, Inc. (NYSE:WSOFree Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 821 shares of the construction company’s stock, valued at approximately $310,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Watsco by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,304 shares of the construction company’s stock valued at $1,260,000 after buying an additional 29 shares during the period. Burney Co. raised its position in shares of Watsco by 5.4% during the second quarter. Burney Co. now owns 3,286 shares of the construction company’s stock worth $1,254,000 after purchasing an additional 167 shares during the period. Carnegie Capital Asset Management LLC raised its position in shares of Watsco by 16.5% during the second quarter. Carnegie Capital Asset Management LLC now owns 25,865 shares of the construction company’s stock worth $9,867,000 after purchasing an additional 3,661 shares during the period. Portside Wealth Group LLC raised its position in shares of Watsco by 1.9% during the third quarter. Portside Wealth Group LLC now owns 3,342 shares of the construction company’s stock worth $1,265,000 after purchasing an additional 63 shares during the period. Finally, Genus Capital Management Inc. raised its position in shares of Watsco by 0.3% during the third quarter. Genus Capital Management Inc. now owns 12,135 shares of the construction company’s stock worth $4,584,000 after purchasing an additional 40 shares during the period. Institutional investors own 89.49% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Watsco from a “hold” rating to a “buy” rating and increased their price objective for the stock from $387.00 to $500.00 in a report on Friday, December 8th. Stephens increased their price objective on Watsco from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, December 11th. Finally, UBS Group increased their price objective on Watsco from $340.00 to $402.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $392.67.

Get Our Latest Stock Analysis on Watsco

Watsco Stock Up 0.4 %

WSO stock opened at $394.38 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 3.08 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $406.52 and a two-hundred day moving average price of $380.33. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.85 and a beta of 0.89. Watsco, Inc. has a twelve month low of $284.05 and a twelve month high of $433.19.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th were paid a dividend of $2.45 per share. The ex-dividend date was Tuesday, January 16th. This represents a $9.80 annualized dividend and a dividend yield of 2.48%. Watsco’s dividend payout ratio is currently 64.69%.

Watsco Profile

(Free Report)

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.

See Also

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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