Benjamin F. Edwards & Company Inc. Has $46.96 Million Holdings in Watsco, Inc. (NYSE:WSO)

Benjamin F. Edwards & Company Inc. raised its position in shares of Watsco, Inc. (NYSE:WSO) by 0.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 101,381 shares of the construction company’s stock after purchasing an additional 379 shares during the quarter. Watsco makes up approximately 0.8% of Benjamin F. Edwards & Company Inc.’s investment portfolio, making the stock its 19th largest holding. Benjamin F. Edwards & Company Inc. owned approximately 0.25% of Watsco worth $46,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WSO. EntryPoint Capital LLC grew its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares during the period. First PREMIER Bank acquired a new stake in shares of Watsco during the 1st quarter worth approximately $25,000. ORG Partners LLC acquired a new stake in shares of Watsco during the 1st quarter worth approximately $31,000. Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after buying an additional 32 shares during the period. Finally, Salomon & Ludwin LLC grew its position in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $500.25 on Friday. The stock has a market cap of $20.18 billion, a PE ratio of 38.48 and a beta of 0.88. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $478.53 and its two-hundred day simple moving average is $460.18.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.42 earnings per share. As a group, analysts forecast that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WSO. JPMorgan Chase & Co. lifted their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $447.67.

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.