Victory Capital Management Inc. Has $11.38 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Victory Capital Management Inc. cut its holdings in Watsco, Inc. (NYSE:WSO) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,142 shares of the construction company’s stock after selling 1,035 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Watsco worth $11,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Massmutual Trust Co. FSB ADV boosted its holdings in Watsco by 30.6% during the third 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 during the last quarter. CWM LLC raised its position in shares of Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after purchasing an additional 24 shares during the period. MCF Advisors LLC raised its position in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the period. Equitable Trust Co. raised its position in shares of Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after purchasing an additional 25 shares during the period. Finally, Mather Group LLC. raised its position in Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after buying an additional 27 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WSO. JPMorgan Chase & Co. boosted 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. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Price Performance

WSO opened at $533.40 on Thursday. The business has a fifty day simple moving average of $496.90 and a 200 day simple moving average of $484.03. The company has a market capitalization of $21.54 billion, a PE ratio of 41.22 and a beta of 0.88. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $545.49.

Watsco (NYSE:WSO) last released 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. Equities 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.02%. 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.