Quest Partners LLC Has $122,000 Stock Holdings in Watsco, Inc. (NYSE:WSO)

Quest Partners LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 329.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 249 shares of the construction company’s stock after acquiring an additional 191 shares during the period. Quest Partners LLC’s holdings in Watsco were worth $122,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WSO. Massmutual Trust Co. FSB ADV increased its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the period. CWM LLC raised its position in shares of Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the period. Equitable Trust Co. boosted its holdings in Watsco by 2.2% in the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock valued at $574,000 after acquiring an additional 25 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in Watsco by 10.2% in the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 0.8 %

Shares of WSO stock opened at $554.67 on Friday. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The firm has a 50 day moving average of $504.14 and a 200-day moving average of $486.93.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.35 EPS. Analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSO. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They set 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 on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Watsco presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Company 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.