Patrick Mauro Investment Advisor INC. bought a new stake in Watsco, Inc. (NYSE:WSO – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,278 shares of the construction company’s stock, valued at approximately $13,868,000. Watsco makes up 7.0% of Patrick Mauro Investment Advisor INC.’s portfolio, making the stock its 2nd biggest holding.
A number of other institutional investors have also recently made changes to their positions in WSO. CWM LLC increased its position in shares of Watsco by 3.8% during the fourth quarter. CWM LLC now owns 710 shares of the construction company’s stock worth $239,000 after purchasing an additional 26 shares in the last quarter. Assetmark Inc. lifted its holdings in Watsco by 2.7% in the 1st quarter. Assetmark Inc. now owns 1,115 shares of the construction company’s stock valued at $406,000 after purchasing an additional 29 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Watsco by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 7,814 shares of the construction company’s stock worth $2,633,000 after purchasing an additional 34 shares during the last quarter. Modern Wealth Management LLC boosted its stake in Watsco by 5.2% during the 2nd quarter. Modern Wealth Management LLC now owns 783 shares of the construction company’s stock worth $346,000 after purchasing an additional 39 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Watsco by 10.5% during the first quarter. Bessemer Group Inc. now owns 496 shares of the construction company’s stock worth $181,000 after buying an additional 47 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on WSO. Morgan Stanley raised their price target on shares of Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Stephens reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Watsco in a research note on Monday. DA Davidson cut their price objective on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Robert W. Baird set a $400.00 target price on shares of Watsco in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $395.50.
Watsco Trading Up 2.0%
Shares of WSO stock opened at $319.91 on Thursday. The company’s 50-day moving average price is $365.93 and its 200-day moving average price is $386.76. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 27.75 and a beta of 1.05. Watsco, Inc. has a twelve month low of $300.66 and a twelve month high of $459.00.
Watsco (NYSE:WSO – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $4.52 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Watsco, Inc. will post 12.43 EPS for the current year.
Watsco Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 16th were paid a $3.30 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $13.20 annualized dividend and a dividend yield of 4.1%. Watsco’s dividend payout ratio is 114.48%.
Watsco Company Profile
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.
Featured Articles
- Five stocks we like better than Watsco
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO – Free Report).
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.
