Nicolet Advisory Services LLC Increases Holdings in Watsco, Inc. (NYSE:WSO)

Nicolet Advisory Services LLC increased its position in Watsco, Inc. (NYSE:WSO) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,549 shares of the construction company’s stock after acquiring an additional 55 shares during the period. Nicolet Advisory Services LLC’s holdings in Watsco were worth $750,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WSO. J. W. Coons Advisors LLC grew its holdings in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 20 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares in the last quarter. CWM LLC boosted its position in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares in the last quarter. MCF Advisors LLC grew its stake in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the last quarter. Finally, Equitable Trust Co. increased its holdings in Watsco by 2.2% during the 3rd 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 in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE:WSO opened at $554.79 on Friday. The firm has a market cap of $22.40 billion, a PE ratio of 42.87 and a beta of 0.88. The firm has a 50 day simple moving average of $499.99 and a 200-day simple moving average of $485.16. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42.

Watsco (NYSE:WSO) last issued its quarterly earnings results 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $4.35 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

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

Analysts Set New Price Targets

WSO has been the topic of several recent research reports. Northcoast Research assumed coverage on shares of Watsco in a report on Friday. They issued a “neutral” rating on the stock. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $491.25.

About Watsco

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.