Watsco, Inc. (NYSE:WSO) Holdings Lifted by Endeavor Private Wealth Inc.

Key Points

• Endeavor Private Wealth Inc. significantly increased its stake in Watsco, Inc. by 401% during the 1st quarter, acquiring a total of 1,568 shares valued at $797,000.
• Watsco's recent earnings report showed earnings per share of $4.52, missing analysts' estimates of $4.84, and its revenue declined 3.6% year-over-year.
• The company declared a quarterly dividend of $3.00 per share, resulting in an annualized dividend of $12.00 and a yield of 2.8%.

Endeavor Private Wealth Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 401.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,568 shares of the construction company's stock after purchasing an additional 1,255 shares during the quarter. Endeavor Private Wealth Inc.'s holdings in Watsco were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UNIVEST FINANCIAL Corp increased its position in Watsco by 8.2% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 5,334 shares of the construction company's stock worth $2,711,000 after buying an additional 406 shares during the period. Baker Avenue Asset Management LP increased its position in Watsco by 19.8% in the 1st quarter. Baker Avenue Asset Management LP now owns 1,483 shares of the construction company's stock valued at $754,000 after acquiring an additional 245 shares during the period. Nicolet Advisory Services LLC boosted its position in Watsco by 1.5% during the first quarter. Nicolet Advisory Services LLC now owns 1,705 shares of the construction company's stock valued at $851,000 after acquiring an additional 25 shares during the last quarter. SlateStone Wealth LLC increased its stake in Watsco by 4.7% in the first quarter. SlateStone Wealth LLC now owns 2,187 shares of the construction company's stock valued at $1,112,000 after purchasing an additional 98 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of Watsco by 11.7% during the first quarter. Arkadios Wealth Advisors now owns 679 shares of the construction company's stock valued at $345,000 after buying an additional 71 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird cut their price target 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. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. UBS Group cut their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. JPMorgan Chase & Co. lifted 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, Morgan Stanley set a $505.00 target price on shares of Watsco in a research note on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Watsco presently has an average rating of "Hold" and a consensus price target of $484.17.

Watsco Stock Performance

Watsco stock traded down $8.61 during midday trading on Monday, hitting $426.24. 421,353 shares of the company's stock were exchanged, compared to its average volume of 354,751. The firm's 50 day simple moving average is $452.11 and its 200 day simple moving average is $476.49. Watsco, Inc. has a 12-month low of $418.31 and a 12-month high of $571.41. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of 32.69 and a beta of 0.95.

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

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, July 16th. Watsco's dividend payout ratio (DPR) 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.