Watsco, Inc. (NYSE:WSO) Stock Position Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in Watsco, Inc. (NYSE:WSO) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,709 shares of the construction company’s stock after acquiring an additional 335 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Watsco were worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WSO. Vanguard Group Inc. boosted its holdings in Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares during the period. Blair William & Co. IL raised its stake in Watsco by 1.2% during the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after acquiring an additional 9,141 shares during the period. Markel Group Inc. boosted its stake in Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after acquiring an additional 5,000 shares during the period. Bank of New York Mellon Corp boosted its stake in Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock valued at $182,068,000 after acquiring an additional 6,320 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Watsco by 4.8% during the fourth quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock valued at $145,690,000 after purchasing an additional 15,552 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on 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 upped their price target on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $469.80.

Watsco Stock Down 2.1 %

Shares of Watsco stock opened at $489.61 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The business’s fifty day moving average price is $478.69 and its two-hundred day moving average price is $462.05. The company has a market capitalization of $19.73 billion, a P/E ratio of 37.66 and a beta of 0.88.

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

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

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.