Oakbrook Investments LLC Buys 1,700 Shares of Watsco, Inc. (WSO)

Oakbrook Investments LLC grew its stake in Watsco, Inc. (NYSE:WSO) by 111.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,225 shares of the construction company’s stock after acquiring an additional 1,700 shares during the quarter. Oakbrook Investments LLC’s holdings in Watsco were worth $519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WSO. BlackRock Inc. increased its stake in shares of Watsco by 5,677.9% in the 1st quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock worth $380,367,000 after acquiring an additional 2,610,583 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Watsco by 26.7% during the 1st quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock worth $351,379,000 after purchasing an additional 517,615 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Watsco by 198.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock worth $116,205,000 after purchasing an additional 501,450 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Watsco by 54.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock worth $134,994,000 after purchasing an additional 309,675 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its position in shares of Watsco by 951.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock worth $52,745,000 after purchasing an additional 309,509 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Shares of Watsco, Inc. (NYSE WSO) opened at 165.81 on Friday. The company’s 50 day moving average price is $159.50 and its 200-day moving average price is $149.35. Watsco, Inc. has a 12 month low of $132.83 and a 12 month high of $167.02. The firm has a market capitalization of $5.42 billion, a P/E ratio of 30.66 and a beta of 0.84.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.13). Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company posted $1.78 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts predict that Watsco, Inc. will post $5.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 13th. This represents a $5.00 annualized dividend and a yield of 3.02%. Watsco’s dividend payout ratio (DPR) is presently 92.42%.

A number of brokerages recently issued reports on WSO. Morgan Stanley raised their price objective on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded Watsco from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Robert W. Baird reissued a “buy” rating and set a $163.00 price objective on shares of Watsco in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $160.40.

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Watsco Company 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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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