Koshinski Asset Management Inc. Grows Stock Position in Watsco, Inc. $WSO

Koshinski Asset Management Inc. increased its position in shares of Watsco, Inc. (NYSE:WSO) by 117.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 990 shares of the construction company’s stock after buying an additional 534 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Watsco were worth $437,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WSO. WPG Advisers LLC purchased a new stake in shares of Watsco during the 1st quarter valued at approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Watsco during the 2nd quarter valued at approximately $26,000. TCTC Holdings LLC raised its position in shares of Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after buying an additional 30 shares during the period. Rossby Financial LCC purchased a new stake in Watsco in the first quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd purchased a new stake in Watsco in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Mizuho cut their target price on Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group cut their target price on Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Watsco in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Watsco from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 15th. Finally, Morgan Stanley cut their target price on Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $447.50.

Watsco Stock Up 2.2%

NYSE:WSO opened at $378.90 on Tuesday. The company has a fifty day simple moving average of $397.91 and a two-hundred day simple moving average of $438.69. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 29.06 and a beta of 0.94. Watsco, Inc. has a 52 week low of $350.00 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last posted 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 business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.49 EPS. On average, analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be paid a $3.00 dividend. The ex-dividend date is Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. Watsco’s payout ratio is 92.02%.

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.