Running Oak Capital LLC Increases Holdings in Watsco, Inc. $WSO

Key Points

• Running Oak Capital LLC increased its stake in Watsco, Inc. by 14.4%, now owning 36,391 shares valued at approximately $16.07 million, according to its recent SEC filing.
• Watsco reported a Q2 earnings miss with an EPS of $4.52 compared to the consensus estimate of $4.84, alongside a revenue decline of 3.6% year-over-year.
• The company announced a $3.00 quarterly dividend, translating to an annual yield of 2.9%, with the payment date set for October 31st.

Running Oak Capital LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,391 shares of the construction company's stock after purchasing an additional 4,576 shares during the quarter. Running Oak Capital LLC owned 0.09% of Watsco worth $16,071,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco in the first quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in Watsco during the first quarter valued at approximately $25,000. WPG Advisers LLC bought a new stake in Watsco during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in Watsco in the 2nd quarter worth approximately $26,000. Finally, TCTC Holdings LLC boosted its holdings in 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 during the period. Institutional investors own 89.71% of the company's stock.

Watsco Stock Up 1.1%

NYSE WSO opened at $415.70 on Monday. The stock's 50-day simple moving average is $410.44 and its two-hundred day simple moving average is $448.50. Watsco, Inc. has a twelve month low of $378.35 and a twelve month high of $571.41. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 31.88 and a beta of 0.94.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 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 the consensus estimate of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. Watsco's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.49 earnings per share. On average, equities analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, October 16th. Watsco's payout ratio is presently 92.02%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Watsco in a report on Saturday, September 27th. Morgan Stanley set a $505.00 target price on Watsco in a research note on Wednesday, July 2nd. Finally, UBS Group dropped their price target on Watsco from $450.00 to $425.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Watsco currently has an average rating of "Hold" and an average target price of $480.00.

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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