TCI Wealth Advisors Inc. Buys Shares of 1,796 Watsco, Inc. $WSO

Key Points

• TCI Wealth Advisors Inc. has acquired 1,796 shares of Watsco, Inc., valued at approximately $793,000, according to its recent Form 13F filing.
• Watsco reported a quarterly EPS of $4.52, missing estimates, with a revenue of $2.06 billion, down 3.6% year-over-year.
• The company also announced a quarterly dividend of $3.00 per share, yielding 3.0% annually, with a high payout ratio of 92.02%.

TCI Wealth Advisors Inc. bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,796 shares of the construction company's stock, valued at approximately $793,000.

Several other hedge funds have also recently bought and sold shares of the business. Centennial Wealth Advisory LLC increased its position in Watsco by 2.9% during the first quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company's stock worth $395,000 after buying an additional 22 shares during the last quarter. Cary Street Partners Financial LLC increased its position in Watsco by 2.2% during the first quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company's stock worth $545,000 after buying an additional 23 shares during the last quarter. Freedom Investment Management Inc. increased its position in Watsco by 4.8% during the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company's stock worth $256,000 after buying an additional 23 shares during the last quarter. Valeo Financial Advisors LLC increased its position in Watsco by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company's stock worth $537,000 after buying an additional 24 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Watsco by 4.6% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the construction company's stock worth $290,000 after buying an additional 25 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE:WSO opened at $393.61 on Friday. The company has a market cap of $15.96 billion, a P/E ratio of 30.18 and a beta of 0.95. The stock's 50-day moving average is $419.41 and its 200-day moving average is $453.41. Watsco, Inc. has a 52-week low of $378.35 and a 52-week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued 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 business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.49 earnings per share. As a group, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is presently 92.02%.

Analyst Ratings Changes

WSO has been the topic of several analyst reports. UBS Group lowered their target price on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research report on Tuesday. Morgan Stanley set a $505.00 price target on shares of Watsco in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target 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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