Watsco, Inc. $WSO Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 25.3% during the second quarter, Holdings Channel.com reports. The fund owned 1,526 shares of the construction company’s stock after purchasing an additional 308 shares during the period. Mattern Capital Management LLC’s holdings in Watsco were worth $674,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Centennial Wealth Advisory LLC increased its position in shares of Watsco by 2.9% during the 1st quarter. Centennial Wealth Advisory LLC now owns 776 shares of the construction company’s stock valued at $395,000 after purchasing an additional 22 shares during the period. Trust Co. of Vermont grew its holdings in Watsco by 10.2% during the second quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock worth $105,000 after acquiring an additional 22 shares during the period. Cary Street Partners Financial LLC raised its position in Watsco by 2.2% in the first quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock worth $545,000 after acquiring an additional 23 shares in the last quarter. Freedom Investment Management Inc. raised its position in Watsco by 4.8% in the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock worth $256,000 after acquiring an additional 23 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Watsco by 2.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock valued at $537,000 after acquiring an additional 24 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WSO shares. UBS Group lowered their price objective on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Watsco in a report on Saturday, September 27th. Finally, Morgan Stanley set a $505.00 price objective on Watsco in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $480.00.

Watsco Stock Performance

Shares of NYSE:WSO opened at $415.70 on Friday. The firm has a 50 day simple moving average of $410.44 and a 200 day simple moving average of $449.28. Watsco, Inc. has a 52 week low of $378.35 and a 52 week high of $571.41. The company has a market cap of $16.86 billion, a PE ratio of 31.88 and a beta of 0.94.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.32). The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.49 earnings per share. On average, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco’s payout ratio is presently 92.02%.

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.