BHK Investment Advisors LLC Has $650,000 Stake in Watsco, Inc. $WSO

BHK Investment Advisors LLC raised its position in shares of Watsco, Inc. (NYSE:WSO) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,471 shares of the construction company’s stock after purchasing an additional 175 shares during the quarter. BHK Investment Advisors LLC’s holdings in Watsco were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WSO. WPG Advisers LLC purchased a new position in shares of Watsco during the first quarter valued at $25,000. TCTC Holdings LLC lifted its stake in Watsco by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Watsco during the 2nd quarter worth about $26,000. Chilton Capital Management LLC purchased a new position in Watsco during the 2nd quarter valued at about $34,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Watsco in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.2%

Watsco stock opened at $351.96 on Friday. Watsco, Inc. has a 1-year low of $344.52 and a 1-year high of $571.41. The firm’s fifty day simple moving average is $382.83 and its 200-day simple moving average is $425.98. The company has a market capitalization of $14.27 billion, a P/E ratio of 27.50 and a beta of 0.93.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The firm had revenue of $2.07 billion during the quarter. On average, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. Zacks Research lowered shares of Watsco from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. UBS Group lowered their price target on shares of Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho dropped their price target on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Finally, William Blair reissued a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $435.00.

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.