Strive Asset Management LLC Buys Shares of 10,000 Watsco, Inc. $WSO

Strive Asset Management LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 10,000 shares of the construction company’s stock, valued at approximately $4,043,000.

A number of other institutional investors and hedge funds have also modified their holdings of WSO. TD Waterhouse Canada Inc. raised its holdings in Watsco by 242.9% during the second quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after buying an additional 71 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Watsco during the 3rd quarter worth $37,000. Capital A Wealth Management LLC boosted its position in shares of Watsco by 4,700.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock worth $41,000 after buying an additional 94 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Watsco by 1,300.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 112 shares of the construction company’s stock valued at $49,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of a number of research reports. KeyCorp restated a “sector weight” rating on shares of Watsco in a research report on Friday, December 12th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Mizuho set a $425.00 price objective on Watsco in a research report on Wednesday, February 18th. UBS Group assumed coverage on Watsco in a report on Monday, January 5th. They set a “neutral” rating and a $370.00 target price on the stock. Finally, Wolfe Research set a $349.00 price target on Watsco in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Watsco presently has an average rating of “Hold” and a consensus target price of $409.00.

Watsco Stock Down 1.4%

Shares of Watsco stock opened at $411.45 on Tuesday. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $533.07. The business’s fifty day moving average is $386.02 and its two-hundred day moving average is $377.85. The firm has a market cap of $16.69 billion, a PE ratio of 33.98 and a beta of 1.03.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 17th. The construction company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.26). Watsco had a net margin of 6.87% and a return on equity of 15.49%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the company posted $2.37 earnings per share. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, January 16th. Watsco’s payout ratio is presently 99.09%.

About Watsco

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.