Fenimore Asset Management Inc Acquires 15,108 Shares of Watsco, Inc. $WSO

Fenimore Asset Management Inc grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 18.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,325 shares of the construction company’s stock after purchasing an additional 15,108 shares during the quarter. Fenimore Asset Management Inc owned about 0.23% of Watsco worth $28,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Bayban bought a new position in Watsco during the fourth quarter valued at about $29,000. Western Wealth Management LLC acquired a new position in shares of Watsco during the 1st quarter valued at about $41,000. Versant Capital Management Inc increased its holdings in shares of Watsco by 293.3% during the 2nd quarter. Versant Capital Management Inc now owns 118 shares of the construction company’s stock valued at $49,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new position in shares of Watsco in the 4th quarter valued at approximately $44,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Watsco in the 2nd quarter valued at approximately $67,000. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research downgraded shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 22nd. Robert W. Baird set a $400.00 target price on shares of Watsco in a report on Thursday, July 30th. Weiss Ratings lowered shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Stephens restated an “overweight” rating and set a $485.00 price target on shares of Watsco in a report on Monday, August 17th. Finally, DA Davidson lowered their price target on Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $395.50.

Watsco Stock Down 0.3%

Watsco stock traded down $0.83 during mid-day trading on Thursday, reaching $281.82. The company had a trading volume of 644,378 shares, compared to its average volume of 453,398. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 24.44 and a beta of 1.06. The company has a 50 day moving average of $312.24 and a 200-day moving average of $364.01. Watsco, Inc. has a 52 week low of $279.04 and a 52 week high of $459.00.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company posted $4.52 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $3.30 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $13.20 annualized dividend and a yield of 4.7%. Watsco’s dividend payout ratio is 114.48%.

Watsco Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, air conditioning and refrigeration equipment and related products. The company supplies residential and commercial contractors with air conditioners, heat pumps, furnaces, refrigeration systems, indoor air-quality products, controls, replacement parts and other installation supplies.

Watsco serves the replacement and new-construction markets through a network of distribution centers, branches, showrooms and e-commerce platforms. Its customers primarily include HVAC and refrigeration contractors, dealers and other industry professionals, while its products are sourced from major manufacturers and distributed under leading industry brands.

Founded in 1956, Watsco has expanded through organic growth and acquisitions to become one of the largest HVAC and refrigeration distributors in North America.