MGO One Seven LLC Invests $712,000 in Watsco, Inc. $WSO

Key Points

• MGO One Seven LLC has invested approximately $712,000 in Watsco, Inc., acquiring 1,613 shares of the construction company during the second quarter.
• Watsco reported earnings per share (EPS) of $4.52 for the last quarter, which missed analysts' expectations by $0.32, with a year-over-year revenue decline of 3.6%.
• The company declared a quarterly dividend of $3.00 per share, representing an annualized dividend yield of 3.2%, with the ex-dividend date set for October 16th.

MGO One Seven LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,613 shares of the construction company's stock, valued at approximately $712,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Centennial Wealth Advisory LLC grew its stake in Watsco by 2.9% in the first quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company's stock valued at $395,000 after acquiring an additional 22 shares during the period. Trust Co. of Vermont grew its stake in Watsco by 10.2% in the second quarter. Trust Co. of Vermont now owns 238 shares of the construction company's stock valued at $105,000 after acquiring an additional 22 shares during the period. Cary Street Partners Financial LLC grew its stake in Watsco by 2.2% in the first quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company's stock valued at $545,000 after acquiring an additional 23 shares during the period. Freedom Investment Management Inc. grew its stake in Watsco by 4.8% in the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company's stock valued at $256,000 after acquiring an additional 23 shares during the period. Finally, Valeo Financial Advisors LLC grew its stake in Watsco by 2.3% in the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company's stock valued at $537,000 after acquiring an additional 24 shares during the period. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of NYSE WSO opened at $370.02 on Friday. The stock has a 50 day moving average price of $399.42 and a 200 day moving average price of $441.28. Watsco, Inc. has a 52 week low of $350.00 and a 52 week high of $571.41. The stock has a market capitalization of $15.00 billion, a PE ratio of 28.38 and a beta of 0.94.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS 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 company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $4.49 earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.2%. Watsco's dividend payout ratio is 92.02%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WSO. Morgan Stanley decreased their target price on Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Watsco in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on Watsco from $425.00 to $400.00 and set a "neutral" rating for the company in a research note on Wednesday. UBS Group reduced their price objective on Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. Finally, William Blair reaffirmed a "market perform" rating on shares of Watsco in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $462.50.

Watsco Company 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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