Campbell Capital Management Inc. Acquires New Holdings in Watsco, Inc. $WSO

Campbell Capital Management Inc. bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,850 shares of the construction company’s stock, valued at approximately $1,557,000.

Several other institutional investors and hedge funds have also bought and sold shares of WSO. Hilltop National Bank grew its position in shares of Watsco by 7.1% during the 3rd quarter. Hilltop National Bank now owns 454 shares of the construction company’s stock valued at $184,000 after purchasing an additional 30 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Watsco by 6.0% during the third quarter. Apollon Wealth Management LLC now owns 601 shares of the construction company’s stock valued at $243,000 after buying an additional 34 shares during the period. Applied Capital LLC FL boosted its stake in Watsco by 0.5% during the third quarter. Applied Capital LLC FL now owns 6,993 shares of the construction company’s stock valued at $2,827,000 after buying an additional 36 shares during the period. Profund Advisors LLC grew its position in Watsco by 4.7% during the third quarter. Profund Advisors LLC now owns 805 shares of the construction company’s stock worth $325,000 after buying an additional 36 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in Watsco by 4.2% during the third quarter. Arkadios Wealth Advisors now owns 948 shares of the construction company’s stock worth $383,000 after buying an additional 38 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Up 1.9%

Shares of WSO stock opened at $381.66 on Wednesday. The business has a 50-day moving average price of $394.63 and a two-hundred day moving average price of $375.87. Watsco, Inc. has a 12-month low of $323.05 and a 12-month high of $521.70. The firm has a market cap of $15.48 billion, a P/E ratio of 31.52 and a beta of 1.03.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.26). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.62 billion. Watsco had a net margin of 6.87% and a return on equity of 15.49%. Watsco’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.37 earnings per share. As a group, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. Watsco’s dividend payout ratio (DPR) is 99.09%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group assumed coverage on Watsco in a report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price target on the stock. Mizuho set a $425.00 price objective on shares of Watsco in a research report on Wednesday, February 18th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Wolfe Research set a $349.00 target price on shares of Watsco in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $409.00.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.