Quarry LP Acquires Shares of 57 Watsco, Inc. (NYSE:WSO)

Quarry LP bought a new position in Watsco, Inc. (NYSE:WSO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 57 shares of the construction company’s stock, valued at approximately $26,000.

Several other hedge funds have also bought and sold shares of the stock. First PREMIER Bank acquired a new stake in Watsco in the first quarter valued at approximately $25,000. EntryPoint Capital LLC increased 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 purchasing an additional 29 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Watsco in the 1st quarter valued at approximately $31,000. Tortoise Investment Management LLC lifted its stake in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in 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 acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $469.80.

Watsco Stock Up 1.2 %

WSO opened at $486.34 on Tuesday. The company has a market cap of $19.60 billion, a PE ratio of 37.41 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $476.99 and a two-hundred day moving average price of $468.56. Watsco, Inc. has a 52 week low of $338.58 and a 52 week high of $520.41.

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

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.22%. Watsco’s dividend payout ratio is presently 83.08%.

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.