Watsco, Inc. (NYSE:WSO) Shares Acquired by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,136 shares of the construction company's stock after acquiring an additional 1,686 shares during the period. Watsco comprises about 1.8% of Buck Wealth Strategies LLC's investment portfolio, making the stock its 22nd biggest holding. Buck Wealth Strategies LLC's holdings in Watsco were worth $9,727,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Watsco in the first quarter worth about $25,000. Manitou Investment Management Ltd. acquired a new position in Watsco in the first quarter worth about $25,000. City Holding Co. acquired a new position in Watsco in the first quarter worth about $29,000. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter worth about $31,000. Finally, ST Germain D J Co. Inc. grew its stake in Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after purchasing an additional 52 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of WSO traded up $8.35 during mid-day trading on Monday, reaching $430.19. 281,500 shares of the company's stock traded hands, compared to its average volume of 256,458. The business's 50-day moving average price is $462.13 and its 200-day moving average price is $482.31. The stock has a market capitalization of $17.43 billion, a P/E ratio of 33.07 and a beta of 1.06. Watsco, Inc. has a 12 month low of $415.70 and a 12 month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $2.17 EPS. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 92.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on WSO shares. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Robert W. Baird cut their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. UBS Group cut their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $486.67.

Watsco Company Profile

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.