Buck Wealth Strategies LLC Raises Stake in Watsco, Inc. (NYSE:WSO)

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

Several other institutional investors and hedge funds also recently bought and sold shares of WSO. Opal Wealth Advisors LLC purchased a new position in shares of Watsco during the 1st quarter worth $25,000. Manitou Investment Management Ltd. purchased a new stake in Watsco in the 1st quarter valued at about $25,000. City Holding Co. acquired a new position in Watsco in the first quarter valued at about $29,000. Rialto Wealth Management LLC acquired a new position in Watsco in the fourth quarter valued at about $31,000. Finally, ST Germain D J Co. Inc. boosted its stake in Watsco by 260.0% during the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock worth $37,000 after buying an additional 52 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 1.8%

WSO traded down $7.61 during trading hours on Wednesday, hitting $423.60. 429,147 shares of the company's stock were exchanged, compared to its average volume of 256,848. The firm has a market cap of $17.16 billion, a P/E ratio of 32.56 and a beta of 1.06. Watsco, Inc. has a 12-month low of $418.34 and a 12-month high of $571.42. The firm has a 50 day moving average of $458.82 and a 200 day moving average of $481.28.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. As a group, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $3.00 per share. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.83%. Watsco's dividend payout ratio is 92.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. UBS Group decreased their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective for the company. Finally, Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Watsco presently has a consensus rating of "Hold" and a consensus price target of $485.83.

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.