589 Shares in Watsco, Inc. $WSO Bought by World Investment Advisors

World Investment Advisors bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 589 shares of the construction company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently made changes to their positions in WSO. Teacher Retirement System of Texas purchased a new position in shares of Watsco during the first quarter worth $2,588,000. Mutual Advisors LLC raised its holdings in shares of Watsco by 5.3% during the first quarter. Mutual Advisors LLC now owns 900 shares of the construction company’s stock worth $457,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Watsco during the first quarter worth $266,000. Envestnet Asset Management Inc. raised its holdings in shares of Watsco by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 268,284 shares of the construction company’s stock worth $136,369,000 after purchasing an additional 8,180 shares during the last quarter. Finally, Fullcircle Wealth LLC purchased a new position in shares of Watsco during the first quarter worth $239,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WSO. Morgan Stanley cut their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. Finally, Mizuho cut their price objective on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday, October 17th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus price target of $440.83.

Watsco Stock Down 0.9%

WSO stock opened at $357.93 on Wednesday. The stock has a market capitalization of $14.51 billion, a P/E ratio of 27.96 and a beta of 0.94. The firm has a 50-day simple moving average of $385.89 and a 200-day simple moving average of $428.00. Watsco, Inc. has a 52 week low of $350.00 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 29th. The construction company reported $3.98 EPS for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.62). The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.22 EPS. On average, analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.4%. Watsco’s payout ratio is currently 93.75%.

Watsco Company 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.