Townsquare Capital LLC Has $11.69 Million Holdings in Watsco, Inc. (NYSE:WSO)

Townsquare Capital LLC boosted its stake in Watsco, Inc. (NYSE:WSO) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,769 shares of the construction company’s stock after purchasing an additional 631 shares during the period. Townsquare Capital LLC’s holdings in Watsco were worth $11,687,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. EntryPoint Capital LLC increased its stake in shares of Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the period. Quarry LP acquired a new stake in Watsco during the 2nd quarter valued at approximately $26,000. Tortoise Investment Management LLC lifted its position in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Watsco in the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV increased its stake 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 in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Watsco Price Performance

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

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $4.35 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend 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.