Wealth Enhancement Advisory Services LLC Purchases 218 Shares of Watsco, Inc. $WSO

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,993 shares of the construction company’s stock after acquiring an additional 218 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Watsco were worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in WSO. OneDigital Investment Advisors LLC acquired a new stake in Watsco during the first quarter worth approximately $266,000. Goldman Sachs Group Inc. boosted its position in shares of Watsco by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock valued at $238,329,000 after buying an additional 180,951 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Watsco during the first quarter valued at approximately $2,588,000. Golden State Wealth Management LLC boosted its position in shares of Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company’s stock valued at $113,000 after buying an additional 116 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company’s stock valued at $429,000 after buying an additional 482 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 1.0%

Watsco stock opened at $395.30 on Wednesday. Watsco, Inc. has a 52 week low of $378.35 and a 52 week high of $571.41. The business has a 50-day simple moving average of $422.63 and a 200 day simple moving average of $454.72. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 30.31 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its 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 return on equity of 16.96% and a net margin of 7.08%.The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm earned $4.49 earnings per share. Watsco’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Wednesday, July 16th. Watsco’s dividend payout ratio is presently 92.02%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several analyst reports. UBS Group cut their target price on Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, May 27th. Finally, Morgan Stanley set a $505.00 price target on Watsco in a 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’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.