Aberdeen Group plc Grows Stock Position in Watsco, Inc. $WSO

Key Points

• Aberdeen Group plc increased its stake in Watsco, Inc. by 149.3% during Q2, owning 31,956 shares valued at approximately $13.9 million.
• Watsco plans to pay a quarterly dividend of $3.00 per share on October 31st, which represents a 3.3% yield on an annualized basis.
• Analysts have a consensus rating of "Hold" for Watsco, with a reduced average price target of $472.50 after recent adjustments.

Aberdeen Group plc boosted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 149.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,956 shares of the construction company's stock after buying an additional 19,136 shares during the period. Aberdeen Group plc owned approximately 0.08% of Watsco worth $13,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Watsco by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 378 shares of the construction company's stock valued at $167,000 after buying an additional 63 shares during the period. Endeavor Private Wealth Inc. increased its stake in Watsco by 9.9% in the second quarter. Endeavor Private Wealth Inc. now owns 1,723 shares of the construction company's stock worth $761,000 after purchasing an additional 155 shares during the period. Baskin Financial Services Inc. increased its stake in Watsco by 2.7% in the second quarter. Baskin Financial Services Inc. now owns 69,344 shares of the construction company's stock worth $30,623,000 after purchasing an additional 1,803 shares during the period. Callan Family Office LLC increased its stake in Watsco by 180.2% in the second quarter. Callan Family Office LLC now owns 2,306 shares of the construction company's stock worth $1,018,000 after purchasing an additional 1,483 shares during the period. Finally, Roundview Capital LLC increased its stake in Watsco by 61.3% in the second quarter. Roundview Capital LLC now owns 2,334 shares of the construction company's stock worth $1,031,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WSO shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Watsco in a research note on Wednesday, October 8th. UBS Group reduced their target price on Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd. Finally, Morgan Stanley dropped their price target 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 seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $472.50.

Watsco Trading Up 0.7%

WSO opened at $366.98 on Wednesday. Watsco, Inc. has a 12-month low of $361.57 and a 12-month high of $571.41. The business's fifty day simple moving average is $401.51 and its 200-day simple moving average is $442.81. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 28.14 and a beta of 0.94.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company posted $4.49 EPS. Watsco's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.3%. Watsco's dividend payout ratio (DPR) is presently 92.02%.

About Watsco

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.

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