Cary Street Partners Investment Advisory LLC raised its holdings in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,024 shares of the construction company’s stock after purchasing an additional 134 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Watsco were worth $391,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raleigh Capital Management Inc. acquired a new stake in Watsco in the second quarter valued at $31,000. Harvest Fund Management Co. Ltd bought a new stake in Watsco in the second quarter valued at about $40,000. Colonial Trust Co SC raised its stake in Watsco by 78.1% during the first quarter. Colonial Trust Co SC now owns 114 shares of the construction company’s stock valued at $36,000 after buying an additional 50 shares in the last quarter. Acadian Asset Management LLC bought a new position in Watsco during the 1st quarter worth approximately $38,000. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Watsco in the 1st quarter valued at approximately $39,000. 89.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on WSO. Mizuho initiated coverage on shares of Watsco in a research note on Monday, July 24th. They set a “neutral” rating and a $360.00 target price for the company. StockNews.com assumed coverage on shares of Watsco in a report on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upped their target price on Watsco from $305.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Loop Capital increased their price target on Watsco from $335.00 to $350.00 in a research report on Monday, September 18th. Finally, UBS Group upped their price objective on Watsco from $340.00 to $402.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $373.78.
Watsco Trading Up 0.1 %
Shares of WSO stock opened at $390.23 on Tuesday. The firm has a market capitalization of $15.37 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 4.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.33 and a current ratio of 3.08. Watsco, Inc. has a 1 year low of $243.38 and a 1 year high of $406.08. The stock has a fifty day moving average of $368.26 and a two-hundred day moving average of $359.97.
Watsco (NYSE:WSO – Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The construction company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.07. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. Watsco had a net margin of 8.14% and a return on equity of 22.66%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.03 earnings per share. As a group, research analysts expect that Watsco, Inc. will post 14.12 EPS for the current year.
Watsco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th were issued a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 64.69%.
Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.
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