Centaurus Financial Inc. Invests $4.41 Million in Watsco, Inc. $WSO

Centaurus Financial Inc. purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,587 shares of the construction company's stock, valued at approximately $4,412,000.

Several other institutional investors have also made changes to their positions in WSO. Torren Management LLC bought a new position in Watsco during the 4th quarter worth $26,000. Bayban bought a new stake in shares of Watsco during the 4th quarter valued at $29,000. Bamco Inc. NY bought a new stake in shares of Watsco during the 4th quarter valued at $35,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Watsco during the 4th quarter worth $37,000. Finally, Quarry LP acquired a new stake in shares of Watsco during the 4th quarter worth $37,000. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WSO. Morgan Stanley upped their price objective on shares of Watsco from $370.00 to $405.00 and gave the stock an "equal weight" rating in a research report on Friday, July 10th. DA Davidson dropped their target price on shares of Watsco from $385.00 to $330.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Robert W. Baird set a $400.00 price target on shares of Watsco in a report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Watsco in a research report on Friday, June 26th. Finally, Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $395.50.

Watsco Stock Performance

Shares of NYSE:WSO opened at $313.60 on Friday. Watsco, Inc. has a 52-week low of $295.75 and a 52-week high of $459.00. The company has a market capitalization of $12.94 billion, a PE ratio of 27.20 and a beta of 1.05. The company has a fifty day moving average of $356.85 and a 200-day moving average of $383.01.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.41). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.14 billion. Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $4.52 EPS. On average, equities analysts forecast that Watsco, Inc. will post 12.21 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 16th were paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, July 16th. Watsco's dividend payout ratio (DPR) is presently 114.48%.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.

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