Raymond James Trust N.A. boosted its stake in Watsco, Inc. (NYSE:WSO – Get Rating) by 42.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,573 shares of the construction company's stock after purchasing an additional 762 shares during the quarter. Raymond James Trust N.A.'s holdings in Watsco were worth $615,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Watsco in the first quarter valued at about $32,000. O Dell Group LLC bought a new stake in Watsco in the first quarter valued at about $32,000. Sargent Bickham Lagudis LLC increased its holdings in Watsco by 828.6% in the second quarter. Sargent Bickham Lagudis LLC now owns 130 shares of the construction company's stock valued at $31,000 after purchasing an additional 116 shares during the last quarter. Zullo Investment Group Inc. increased its holdings in Watsco by 351.6% in the first quarter. Zullo Investment Group Inc. now owns 140 shares of the construction company's stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new stake in Watsco in the first quarter valued at about $56,000. Institutional investors own 82.38% of the company's stock.
Get Watsco alerts:Watsco Stock Down 1.1 %
NYSE:WSO opened at $252.93 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.47. The company has a market cap of $9.85 billion, a PE ratio of 18.78 and a beta of 0.92. Watsco, Inc. has a 52-week low of $220.68 and a 52-week high of $318.98. The stock has a 50-day simple moving average of $276.79 and a 200 day simple moving average of $270.80.
Watsco (NYSE:WSO – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The construction company reported $4.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.02 by ($0.09). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.15 billion. Watsco had a return on equity of 25.27% and a net margin of 7.56%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.71 earnings per share. On average, sell-side analysts expect that Watsco, Inc. will post 14.5 EPS for the current fiscal year.Watsco Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a dividend of $2.20 per share. The ex-dividend date was Thursday, July 14th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 3.48%. Watsco's payout ratio is presently 65.33%.
Analyst Ratings Changes
A number of research firms recently commented on WSO. Deutsche Bank Aktiengesellschaft began coverage on Watsco in a report on Wednesday, August 17th. They issued a "hold" rating and a $311.00 price objective for the company. Stephens lowered their price target on Watsco to $350.00 and set an "outperform" rating for the company in a report on Wednesday, July 27th. KeyCorp increased their price target on Watsco from $300.00 to $310.00 and gave the stock an "overweight" rating in a report on Tuesday, September 6th. Robert W. Baird upgraded Watsco from a "neutral" rating to an "outperform" rating and lowered their price target for the stock from $350.00 to $313.00 in a report on Thursday, July 14th. Finally, Morgan Stanley increased their price target on Watsco from $204.00 to $217.00 and gave the stock an "underweight" rating in a report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Watsco currently has an average rating of "Hold" and an average target price of $300.20.
Watsco Company Profile
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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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