DF Dent & Co. Inc. Grows Holdings in Watsco, Inc. (WSO)

DF Dent & Co. Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 951.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,053 shares of the construction company’s stock after purchasing an additional 309,509 shares during the quarter. DF Dent & Co. Inc. owned about 1.05% of Watsco worth $52,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in Watsco by 0.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,426 shares of the construction company’s stock worth $374,000 after purchasing an additional 21 shares during the period. Bank of Montreal Can increased its holdings in Watsco by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after purchasing an additional 22 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Watsco by 1.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,542 shares of the construction company’s stock worth $392,000 after purchasing an additional 32 shares during the period. Creative Planning increased its holdings in Watsco by 6.1% during the 2nd quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after purchasing an additional 60 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Watsco by 0.4% during the 2nd quarter. Prudential Financial Inc. now owns 18,918 shares of the construction company’s stock worth $2,917,000 after purchasing an additional 66 shares during the period. Institutional investors own 81.63% of the company’s stock.

Several research firms have commented on WSO. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley raised their price objective on Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $176.00 price objective (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. BidaskClub upgraded Watsco from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Finally, Wolfe Research began coverage on Watsco in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. 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 company. The company presently has a consensus rating of “Hold” and an average price target of $161.17.

Shares of Watsco, Inc. (WSO) traded down 1.11% during mid-day trading on Tuesday, reaching $160.64. The company’s stock had a trading volume of 66,604 shares. The stock has a 50 day moving average of $153.40 and a 200-day moving average of $147.54. The stock has a market cap of $5.25 billion, a P/E ratio of 29.70 and a beta of 0.84. Watsco, Inc. has a one year low of $128.60 and a one year high of $163.95.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post $5.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, October 13th. Watsco’s dividend payout ratio is currently 93.11%.

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Watsco 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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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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