Boston Family Office LLC Acquires Shares of 835 Watsco, Inc. $WSO

Boston Family Office LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 835 shares of the construction company’s stock, valued at approximately $369,000.

Several other hedge funds have also modified their holdings of WSO. Cetera Investment Advisers raised its position in Watsco by 6.3% in the first quarter. Cetera Investment Advisers now owns 8,432 shares of the construction company’s stock worth $4,286,000 after acquiring an additional 503 shares in the last quarter. LPL Financial LLC grew its stake in shares of Watsco by 2.8% during the 1st quarter. LPL Financial LLC now owns 28,338 shares of the construction company’s stock worth $14,404,000 after purchasing an additional 781 shares during the period. XTX Topco Ltd increased its holdings in shares of Watsco by 47.7% in the 1st quarter. XTX Topco Ltd now owns 1,300 shares of the construction company’s stock valued at $661,000 after purchasing an additional 420 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Watsco by 11.7% in the first quarter. Arkadios Wealth Advisors now owns 679 shares of the construction company’s stock valued at $345,000 after purchasing an additional 71 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Watsco by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 14,240 shares of the construction company’s stock worth $7,238,000 after buying an additional 173 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WSO has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price objective on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. UBS Group reduced their price objective on Watsco from $425.00 to $390.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. William Blair reissued a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. Finally, Mizuho dropped their price target on Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus target price of $435.00.

Watsco Stock Performance

WSO stock opened at $341.53 on Tuesday. The stock’s 50 day moving average price is $365.92 and its 200 day moving average price is $410.95. The firm has a market cap of $13.85 billion, a P/E ratio of 26.68 and a beta of 0.93. Watsco, Inc. has a 1 year low of $323.05 and a 1 year high of $552.32.

Watsco (NYSE:WSO) last released its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The company had revenue of $2.07 billion during the quarter. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.5%. Watsco’s payout ratio is presently 93.75%.

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.