Strs Ohio Acquires New Shares in Watsco, Inc. $WSO

Strs Ohio purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,443 shares of the construction company’s stock, valued at approximately $1,242,000.

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

Wall Street Analyst Weigh In

WSO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. UBS Group cut their price objective on Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. Finally, Morgan Stanley set a $505.00 price target on Watsco in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $484.17.

Watsco Price Performance

NYSE WSO opened at $387.85 on Thursday. The company has a fifty day moving average of $429.32 and a 200 day moving average of $457.99. The company has a market capitalization of $15.73 billion, a PE ratio of 29.74 and a beta of 0.95. Watsco, Inc. has a 1 year low of $378.35 and a 1 year high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the company posted $4.49 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were given 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 was Wednesday, July 16th. Watsco’s dividend payout ratio is 92.02%.

About Watsco

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.