Equitable Holdings Inc. purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,577 shares of the construction company's stock, valued at approximately $1,491,000.
Other hedge funds also recently modified their holdings of the company. Torren Management LLC purchased a new stake in Watsco in the fourth quarter worth $26,000. Bayban bought a new position in shares of Watsco during the 4th quarter worth $29,000. Bamco Inc. NY bought a new position in shares of Watsco during the 4th quarter worth $35,000. Laurel Wealth Advisors LLC purchased a new stake in Watsco in the 4th quarter worth about $37,000. Finally, Quarry LP purchased a new stake in Watsco in the 4th quarter worth about $37,000. Institutional investors own 89.71% of the company's stock.
Analyst Upgrades and Downgrades
WSO has been the topic of several recent research reports. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Morgan Stanley boosted their price target on shares of Watsco from $370.00 to $405.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Stephens restated an "overweight" rating and set a $485.00 price target on shares of Watsco in a research note on Monday, August 17th. Robert W. Baird set a $400.00 price target on shares of Watsco in a research note on Thursday, July 30th. Finally, DA Davidson cut their price objective on shares of Watsco from $385.00 to $330.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $395.50.
Read Our Latest Stock Report on Watsco
Watsco Stock Performance
Shares of WSO opened at $310.89 on Friday. Watsco, Inc. has a 52-week low of $295.75 and a 52-week high of $459.00. The stock's 50-day simple moving average is $355.05 and its 200 day simple moving average is $382.50. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 26.96 and a beta of 1.05.
Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the prior year, the firm posted $4.52 EPS. Watsco's revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.
Watsco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco's dividend payout ratio (DPR) is 114.48%.
About Watsco
(
Free Report)
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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