TrueMark Investments LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,633 shares of the construction company's stock, valued at approximately $5,137,000. Watsco makes up approximately 1.1% of TrueMark Investments LLC's portfolio, making the stock its 21st biggest position.
Several other institutional investors have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in Watsco in the 1st quarter valued at approximately $25,000. TCTC Holdings LLC lifted its stake 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 buying an additional 30 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Watsco in the 2nd quarter valued at approximately $26,000. Rossby Financial LCC purchased a new stake in Watsco in the 1st quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd purchased a new stake in Watsco in the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 89.71% of the company's stock.
Watsco Stock Up 0.6%
Shares of Watsco stock opened at $371.41 on Friday. Watsco, Inc. has a fifty-two week low of $350.00 and a fifty-two week high of $571.41. The firm has a market cap of $15.06 billion, a PE ratio of 28.48 and a beta of 0.94. The business's fifty day moving average is $398.64 and its two-hundred day moving average is $439.75.
Watsco (NYSE:WSO - Get Free Report) last issued 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). The firm had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $4.49 earnings per share. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.
Watsco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco's dividend payout ratio (DPR) is 92.02%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on WSO shares. Mizuho reduced their target price on Watsco from $525.00 to $400.00 and set a "neutral" rating on the stock in a research note on Friday. William Blair reaffirmed a "market perform" rating on shares of Watsco in a research note on Wednesday. Morgan Stanley reduced their price target on Watsco from $505.00 to $460.00 and set an "equal weight" rating on the stock 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. Finally, UBS Group reduced their price target on Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $447.50.
Get Our Latest Analysis on WSO
Watsco Company Profile
(
Free Report)
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.
Further Reading
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