Watsco, Inc. $WSO Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Watsco, Inc. (NYSE:WSO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 33,999 shares of the construction company’s stock, valued at approximately $10,291,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Watsco as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new position in Watsco during the third quarter worth approximately $34,000. Western Wealth Management LLC acquired a new stake in shares of Watsco in the first quarter valued at approximately $41,000. Versant Capital Management Inc lifted its position in shares of Watsco by 293.3% in the second quarter. Versant Capital Management Inc now owns 118 shares of the construction company’s stock valued at $49,000 after buying an additional 88 shares during the last quarter. GK Wealth Management LLC acquired a new stake in shares of Watsco in the third quarter valued at approximately $63,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Watsco during the 2nd quarter worth approximately $67,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 2.4%

Shares of WSO stock opened at $319.06 on Thursday. Watsco, Inc. has a 12-month low of $277.34 and a 12-month high of $459.00. The company has a market capitalization of $13.16 billion, a PE ratio of 28.19 and a beta of 1.03. The firm has a 50 day moving average price of $306.25 and a two-hundred day moving average price of $364.81.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, October 27th. The construction company reported $3.77 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.33). The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. Watsco had a net margin of 6.31% and a return on equity of 13.97%. Watsco’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.98 EPS. As a group, research analysts expect that Watsco, Inc. will post 11.70 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were paid a $3.30 dividend. The ex-dividend date was Friday, October 16th. This represents a $13.20 annualized dividend and a yield of 4.1%. Watsco’s payout ratio is 116.61%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Watsco from $370.00 to $330.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 21st. Weiss Ratings cut shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Mizuho decreased their price objective on shares of Watsco from $350.00 to $325.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Finally, Stephens reissued an “overweight” rating and issued a $485.00 price objective on shares of Watsco in a research report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $373.62.

About Watsco

Watsco, Inc (NYSE: WSO) is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and light commercial air-conditioning and heating systems, refrigeration equipment, replacement parts, and other supplies used by contractors and service professionals.

Watsco distributes products from leading HVAC/R manufacturers, including equipment and components such as air conditioners, heat pumps, furnaces, air handlers, thermostats, controls, motors and indoor air-quality products.