Tower Bridge Advisors acquired a new stake in Watsco, Inc. (NYSE:WSO – Get Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,948 shares of the construction company's stock, valued at approximately $5,480,000. Tower Bridge Advisors owned approximately 0.06% of Watsco at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC grew its position in shares of Watsco by 2.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,887 shares of the construction company's stock worth $590,000 after buying an additional 42 shares during the period. State of Michigan Retirement System grew its position in shares of Watsco by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 8,383 shares of the construction company's stock worth $2,554,000 after buying an additional 42 shares during the period. Cetera Investment Advisers grew its position in shares of Watsco by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 1,870 shares of the construction company's stock worth $570,000 after buying an additional 52 shares during the period. Arizona State Retirement System grew its position in shares of Watsco by 0.6% during the 1st quarter. Arizona State Retirement System now owns 8,927 shares of the construction company's stock worth $2,720,000 after buying an additional 53 shares during the period. Finally, Insight Folios Inc boosted its stake in Watsco by 2.7% during the 2nd quarter. Insight Folios Inc now owns 2,081 shares of the construction company's stock worth $497,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 82.38% of the company's stock.
Get Watsco alerts:Watsco Stock Up 0.6 %
WSO traded up $1.51 during trading on Friday, reaching $257.54. The company had a trading volume of 15,026 shares, compared to its average volume of 231,552. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.47 and a quick ratio of 1.08. Watsco, Inc. has a 12 month low of $220.68 and a 12 month high of $318.98. The business's fifty day moving average price is $277.01 and its 200 day moving average price is $270.25. The company has a market cap of $10.03 billion, a P/E ratio of 19.32 and a beta of 0.92.
Watsco (NYSE:WSO – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The construction company reported $4.93 earnings per share for the quarter, missing analysts' consensus estimates of $5.02 by ($0.09). Watsco had a net margin of 7.56% and a return on equity of 25.27%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm posted $3.71 EPS. The business's quarterly revenue was up 15.4% compared to the same quarter last year. Equities analysts anticipate that Watsco, Inc. will post 14.5 EPS for the current year.Watsco Dividend Announcement
The firm 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 dividend on an annualized basis and a dividend yield of 3.42%. Watsco's dividend payout ratio (DPR) is presently 65.33%.
Wall Street Analysts Forecast Growth
WSO has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Watsco from $204.00 to $217.00 and gave the stock an "underweight" rating in a research note on Thursday, September 1st. KeyCorp lifted their price objective on shares of Watsco from $300.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watsco in a research note on Wednesday, August 17th. They set a "hold" rating and a $311.00 price objective on the stock. Stephens reduced their price objective on shares of Watsco to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th. Finally, Robert W. Baird raised shares of Watsco from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $350.00 to $313.00 in a research note on Thursday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Watsco has a consensus rating of "Hold" and an average price target of $300.20.
Watsco 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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