Centaurus Financial Inc. purchased a new stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,587 shares of the construction company’s stock, valued at approximately $4,412,000.
Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in Watsco by 4.1% in the first quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock valued at $3,013,000 after purchasing an additional 232 shares during the period. Bank of Nova Scotia lifted its holdings in Watsco by 95.0% during the 2nd quarter. Bank of Nova Scotia now owns 1,297 shares of the construction company’s stock worth $573,000 after buying an additional 632 shares during the period. Sei Investments Co. lifted its holdings in Watsco by 7.6% during the 2nd quarter. Sei Investments Co. now owns 50,442 shares of the construction company’s stock worth $22,275,000 after buying an additional 3,570 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Watsco by 2.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 16,258 shares of the construction company’s stock valued at $7,180,000 after buying an additional 437 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Watsco by 12.0% in the 2nd quarter. Diversify Advisory Services LLC now owns 523 shares of the construction company’s stock valued at $221,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. DA Davidson cut their price objective on Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley increased their target price on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Finally, Stephens restated an “overweight” rating and set a $485.00 price target on shares of Watsco in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $395.50.
Watsco Stock Performance
Shares of NYSE:WSO opened at $313.60 on Friday. Watsco, Inc. has a 52-week low of $295.75 and a 52-week high of $459.00. The business’s 50 day simple moving average is $356.85 and its two-hundred day simple moving average is $383.01. The firm has a market cap of $12.94 billion, a P/E ratio of 27.20 and a beta of 1.05.
Watsco (NYSE:WSO – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.
Watsco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were issued a dividend of $3.30 per share. The ex-dividend date was Thursday, July 16th. This represents a $13.20 annualized dividend and a yield of 4.2%. Watsco’s dividend payout ratio is presently 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.
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