Focus Partners Wealth Raises Stake in Watsco, Inc. $WSO

Key Points

• Focus Partners Wealth increased its stake in Watsco, Inc. by 10.5%, now owning 8,524 shares valued at approximately $4.33 million.
• Watsco's latest earnings report revealed earnings per share of $4.52, falling short of analysts' expectations of $4.84, while revenue declined by 3.6% year-over-year.
• Recently, several analysts adjusted their price targets for Watsco, with JPMorgan raising it to $460 and Morgan Stanley setting it at $505.

Focus Partners Wealth boosted its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,524 shares of the construction company's stock after acquiring an additional 810 shares during the quarter. Focus Partners Wealth's holdings in Watsco were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Manitou Investment Management Ltd. acquired a new position in shares of Watsco in the 1st quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Watsco in the 1st quarter valued at approximately $25,000. WPG Advisers LLC acquired a new position in shares of Watsco in the 1st quarter valued at approximately $25,000. TCTC Holdings LLC raised its position in shares of Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of Watsco in the 1st quarter valued at approximately $29,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on WSO. JPMorgan Chase & Co. upped their price target on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley set a $505.00 price target on Watsco in a research report on Wednesday, July 2nd. Finally, UBS Group dropped their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Watsco currently has a consensus rating of "Hold" and a consensus target price of $484.17.

Watsco Stock Performance

NYSE:WSO opened at $381.84 on Monday. Watsco, Inc. has a 1 year low of $378.35 and a 1 year high of $571.41. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 29.28 and a beta of 0.96. The business has a fifty day moving average of $433.70 and a 200-day moving average of $459.74.

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

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's dividend payout ratio is currently 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.

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