Envestnet Asset Management Inc. Buys 14,013 Shares of Watsco, Inc. $WSO

Envestnet Asset Management Inc. boosted its stake in Watsco, Inc. (NYSE:WSO) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,750 shares of the construction company’s stock after buying an additional 14,013 shares during the period. Envestnet Asset Management Inc. owned 0.68% of Watsco worth $111,890,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of Watsco during the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its holdings in Watsco by 2,366.7% in the third quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Watsco by 242.9% during the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after buying an additional 51 shares during the period. Chilton Capital Management LLC purchased a new position in Watsco during the second quarter valued at $34,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Watsco during the 3rd quarter valued at $37,000. 89.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wolfe Research set a $349.00 price target on shares of Watsco in a research note on Tuesday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Mizuho decreased their target price on shares of Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Zacks Research lowered shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, KeyCorp reissued a “sector weight” rating on shares of Watsco in a research report on Friday, December 12th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus target price of $404.14.

Watsco Stock Performance

NYSE:WSO opened at $421.05 on Friday. The firm has a market cap of $17.08 billion, a P/E ratio of 32.89 and a beta of 1.04. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $535.40. The firm has a 50-day simple moving average of $364.06 and a two-hundred day simple moving average of $381.31.

Watsco (NYSE:WSO) last issued its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The firm had revenue of $2.07 billion for the quarter. On average, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were paid a $3.00 dividend. The ex-dividend date was Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. Watsco’s payout ratio is currently 93.75%.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.