RFG Advisory LLC Has $1.95 Million Position in Watsco, Inc. $WSO

RFG Advisory LLC reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,420 shares of the construction company’s stock after selling 98 shares during the period. RFG Advisory LLC’s holdings in Watsco were worth $1,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WSO. Goldman Sachs Group Inc. lifted its holdings in Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after purchasing an additional 180,951 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Watsco during the 1st quarter worth approximately $54,536,000. Charles Schwab Investment Management Inc. lifted its holdings in Watsco by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,454,512 shares of the construction company’s stock worth $739,088,000 after purchasing an additional 82,977 shares during the last quarter. Nuveen LLC acquired a new stake in Watsco during the 1st quarter worth approximately $41,218,000. Finally, Blair William & Co. IL raised its holdings in Watsco by 5.7% in the 1st quarter. Blair William & Co. IL now owns 814,712 shares of the construction company’s stock valued at $414,118,000 after acquiring an additional 43,776 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on WSO shares. William Blair reaffirmed a “market perform” rating on shares of Watsco in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Watsco from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Watsco in a report on Wednesday, October 8th. UBS Group dropped their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Finally, Morgan Stanley dropped their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $462.50.

Watsco Stock Performance

Shares of WSO opened at $360.02 on Thursday. Watsco, Inc. has a 52-week low of $350.00 and a 52-week high of $571.41. The business’s fifty day moving average is $400.35 and its 200-day moving average is $442.24. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 27.61 and a beta of 0.94.

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

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.3%. Watsco’s payout ratio is currently 92.02%.

Watsco Company 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.