CW Advisors LLC Increases Stake in Watsco, Inc. $WSO

CW Advisors LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 210.8% during the 1st quarter, HoldingsChannel reports. The fund owned 2,695 shares of the construction company’s stock after acquiring an additional 1,828 shares during the period. CW Advisors LLC’s holdings in Watsco were worth $1,375,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Watsco in the first quarter valued at approximately $25,000. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco during the first quarter valued at approximately $25,000. TCTC Holdings LLC grew its position in shares of Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. City Holding Co. acquired a new stake in shares of Watsco during the first quarter worth approximately $29,000. Finally, Rossby Financial LCC acquired a new stake in shares of Watsco during the first quarter worth approximately $33,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE:WSO opened at $407.5450 on Tuesday. Watsco, Inc. has a fifty-two week low of $397.73 and a fifty-two week high of $571.41. The stock’s 50-day moving average is $444.02 and its two-hundred day moving average is $468.89. The stock has a market cap of $16.53 billion, a PE ratio of 31.25 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.32). The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.49 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. Watsco’s payout ratio is presently 92.02%.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of research reports. UBS Group decreased their price objective on shares of Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a report on Wednesday, June 25th. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus price target of $484.17.

About Watsco

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.