Watsco, Inc. $WSO Shares Purchased by CW Advisors LLC

Key Points

• CW Advisors LLC increased its stake in Watsco, Inc. by 210.8% in the first quarter, owning 2,695 shares valued at $1.375 million.
• Watsco's quarterly earnings report showed a miss in EPS estimates, reporting $4.52 versus the consensus of $4.84, and revenues of $2.06 billion compared to expected $2.24 billion.
• The company declared a quarterly dividend of $3.00 per share, yielding an annualized dividend of $12.00 with a payout ratio of 92.02%.

CW Advisors LLC grew its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 210.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,695 shares of the construction company's stock after buying an additional 1,828 shares during the period. CW Advisors LLC's holdings in Watsco were worth $1,375,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OneDigital Investment Advisors LLC purchased a new position in Watsco during the first quarter worth $266,000. Teacher Retirement System of Texas purchased a new position in Watsco during the first quarter worth $2,588,000. Golden State Wealth Management LLC increased its position in Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock worth $113,000 after buying an additional 116 shares in the last quarter. SG Americas Securities LLC increased its position in Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock worth $429,000 after buying an additional 482 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Watsco by 4.8% during the first quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WSO shares. Morgan Stanley set a $505.00 price objective on Watsco in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Finally, UBS Group cut 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, June 25th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Watsco has a consensus rating of "Hold" and an average price target of $484.17.

Watsco Price Performance

WSO stock traded down $6.93 on Thursday, reaching $401.74. The company's stock had a trading volume of 174,750 shares, compared to its average volume of 334,525. Watsco, Inc. has a 52 week low of $397.73 and a 52 week high of $571.41. The company has a market capitalization of $16.29 billion, a P/E ratio of 30.81 and a beta of 0.95. The firm has a fifty day moving average of $442.97 and a two-hundred day moving average of $467.59.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $4.49 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, July 16th. Watsco's dividend payout ratio is 92.02%.

Watsco 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.