Applied Capital LLC FL Grows Holdings in Watsco, Inc. $WSO

Applied Capital LLC FL boosted its holdings in Watsco, Inc. (NYSE:WSO) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,957 shares of the construction company’s stock after purchasing an additional 60 shares during the quarter. Watsco comprises 2.2% of Applied Capital LLC FL’s investment portfolio, making the stock its 12th largest holding. Applied Capital LLC FL’s holdings in Watsco were worth $3,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Inspire Investing LLC raised its position in Watsco by 2.8% in the 2nd quarter. Inspire Investing LLC now owns 4,399 shares of the construction company’s stock valued at $1,943,000 after purchasing an additional 121 shares during the last quarter. Aberdeen Group plc raised its position in Watsco by 149.3% in the 2nd quarter. Aberdeen Group plc now owns 31,956 shares of the construction company’s stock valued at $13,943,000 after purchasing an additional 19,136 shares during the last quarter. Blue Trust Inc. raised its position in Watsco by 20.0% in the 2nd quarter. Blue Trust Inc. now owns 378 shares of the construction company’s stock valued at $167,000 after purchasing an additional 63 shares during the last quarter. Endeavor Private Wealth Inc. raised its position in Watsco by 9.9% in the 2nd quarter. Endeavor Private Wealth Inc. now owns 1,723 shares of the construction company’s stock valued at $761,000 after purchasing an additional 155 shares during the last quarter. Finally, Baskin Financial Services Inc. raised its position in Watsco by 2.7% in the 2nd quarter. Baskin Financial Services Inc. now owns 69,344 shares of the construction company’s stock valued at $30,623,000 after purchasing an additional 1,803 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $366.64 on Friday. The company has a market cap of $14.87 billion, a P/E ratio of 28.12 and a beta of 0.94. Watsco, Inc. has a one year low of $366.30 and a one year high of $571.41. The firm has a fifty day moving average of $403.95 and a two-hundred day moving average of $445.25.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.49 EPS. As a group, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 92.02%.

Wall Street Analyst Weigh In

Several analysts recently commented on WSO shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Watsco in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, UBS Group cut their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $472.50.

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.