Cynosure Group LLC Has $423,000 Holdings in Watsco, Inc. (NYSE:WSO)

Cynosure Group LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 860 shares of the construction company’s stock after buying an additional 41 shares during the period. Cynosure Group LLC’s holdings in Watsco were worth $423,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WSO. EntryPoint Capital LLC boosted its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Watsco by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 131,149 shares of the construction company’s stock valued at $56,653,000 after purchasing an additional 443 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Watsco by 168.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,075 shares of the construction company’s stock worth $895,000 after buying an additional 1,303 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Watsco by 22.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,321 shares of the construction company’s stock worth $1,435,000 after buying an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Watsco by 1.0% in the first quarter. California State Teachers Retirement System now owns 53,064 shares of the construction company’s stock valued at $22,922,000 after buying an additional 516 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on WSO shares. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $491.25.

Watsco Trading Up 0.7 %

NYSE:WSO opened at $554.55 on Thursday. The stock’s 50-day moving average is $502.78 and its 200-day moving average is $486.45. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a market cap of $22.39 billion, a P/E ratio of 42.86 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.35 earnings per share. As a group, equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued 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 payout ratio is 83.46%.

Watsco 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.