AdvisorNet Financial Inc boosted its holdings in shares of Watsco, Inc. (NYSE:WSO – Get Rating) by 45.1% in the 2nd quarter, Holdings Channel reports. The fund owned 926 shares of the construction company's stock after acquiring an additional 288 shares during the quarter. AdvisorNet Financial Inc's holdings in Watsco were worth $221,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in Watsco during the 1st quarter valued at about $32,000. O Dell Group LLC purchased a new stake in Watsco during the 1st quarter valued at about $32,000. Zullo Investment Group Inc. grew its stake in Watsco by 351.6% during the 1st quarter. Zullo Investment Group Inc. now owns 140 shares of the construction company's stock valued at $43,000 after acquiring an additional 109 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Watsco in the 1st quarter valued at about $56,000. Finally, Prospera Financial Services Inc acquired a new position in Watsco in the 1st quarter valued at about $60,000. Hedge funds and other institutional investors own 82.38% of the company's stock.
Get Watsco alerts:Watsco Stock Performance
Shares of WSO stock opened at $271.00 on Wednesday. The firm's 50 day moving average price is $276.36 and its 200-day moving average price is $271.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.47. Watsco, Inc. has a one year low of $220.68 and a one year high of $318.98. The firm has a market cap of $10.56 billion, a P/E ratio of 20.12 and a beta of 0.92.
Watsco (NYSE:WSO – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The construction company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.82 by $0.11. Watsco had a net margin of 7.56% and a return on equity of 25.27%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business posted $3.71 EPS. The business's revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Watsco, Inc. will post 14.5 EPS for the current year.Watsco Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a $2.20 dividend. The ex-dividend date was Thursday, July 14th. This represents a $8.80 annualized dividend and a dividend yield of 3.25%. Watsco's dividend payout ratio is currently 65.33%.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watsco in a report on Wednesday, August 17th. They issued a "hold" rating and a $311.00 target price on the stock. Robert W. Baird upgraded shares of Watsco from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $350.00 to $313.00 in a report on Thursday, July 14th. Morgan Stanley boosted their target price on shares of Watsco from $204.00 to $217.00 and gave the company an "underweight" rating in a report on Thursday, September 1st. KeyCorp boosted their target price on shares of Watsco from $300.00 to $310.00 and gave the company an "overweight" rating in a report on Tuesday, September 6th. Finally, Stephens decreased their target price on shares of Watsco to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $300.20.
About Watsco
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising 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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