B.O.S.S. Retirement Advisors LLC reduced its stake in Watsco, Inc. (NYSE:WSO – Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,114 shares of the construction company’s stock after selling 233 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in Watsco were worth $2,332,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of WSO. Steward Partners Investment Advisory LLC raised its stake in shares of Watsco by 2.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,494 shares of the construction company’s stock valued at $475,000 after acquiring an additional 32 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in shares of Watsco by 0.5% during the first quarter. Alliance Wealth Advisors LLC UT now owns 7,137 shares of the construction company’s stock valued at $2,271,000 after acquiring an additional 34 shares during the last quarter. Burney Co. raised its stake in shares of Watsco by 1.1% during the first quarter. Burney Co. now owns 3,119 shares of the construction company’s stock valued at $992,000 after acquiring an additional 35 shares during the last quarter. Avestar Capital LLC raised its stake in shares of Watsco by 3.3% during the first quarter. Avestar Capital LLC now owns 1,426 shares of the construction company’s stock valued at $454,000 after acquiring an additional 45 shares during the last quarter. Finally, Fiduciary Trust Co. raised its stake in shares of Watsco by 0.4% during the first quarter. Fiduciary Trust Co. now owns 10,610 shares of the construction company’s stock valued at $3,376,000 after acquiring an additional 45 shares during the last quarter. 89.49% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $305.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Watsco in a research note on Thursday, August 17th. They set a “hold” rating for the company. Mizuho assumed coverage on shares of Watsco in a research note on Monday, July 24th. They set a “neutral” rating and a $360.00 target price for the company. UBS Group lifted their target price on shares of Watsco from $280.00 to $340.00 in a research note on Tuesday, May 23rd. Finally, Morgan Stanley lifted their target price on shares of Watsco from $323.00 to $326.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $364.00.
Watsco Stock Down 0.9 %
Shares of NYSE WSO traded down $3.30 during mid-day trading on Friday, reaching $352.66. 638,157 shares of the company’s stock traded hands, compared to its average volume of 227,627. The stock has a market cap of $13.78 billion, a P/E ratio of 23.78, a PEG ratio of 4.52 and a beta of 0.95. The business has a 50-day simple moving average of $360.30 and a 200 day simple moving average of $341.72. Watsco, Inc. has a 1-year low of $228.61 and a 1-year high of $383.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 1.25.
Watsco (NYSE:WSO – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.87 by ($0.45). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a net margin of 8.06% and a return on equity of 22.94%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.93 earnings per share. On average, analysts expect that Watsco, Inc. will post 14.2 EPS for the current fiscal year.
Watsco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Friday, July 14th. Watsco’s dividend payout ratio is currently 66.08%.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.
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