Unified Investment Management Buys New Position in Watsco, Inc. $WSO

Unified Investment Management bought a new stake in Watsco, Inc. (NYSE:WSO) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,312 shares of the construction company’s stock, valued at approximately $477,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB lifted its holdings in shares of Watsco by 11.2% during the first quarter. Swedbank AB now owns 58,214 shares of the construction company’s stock worth $21,178,000 after buying an additional 5,869 shares during the last quarter. Intrinsic Value Partners LLC boosted its position in shares of Watsco by 2.9% in the first quarter. Intrinsic Value Partners LLC now owns 1,789 shares of the construction company’s stock valued at $651,000 after acquiring an additional 50 shares during the period. Whittier Trust Co. grew its stake in shares of Watsco by 29.3% in the first quarter. Whittier Trust Co. now owns 388 shares of the construction company’s stock worth $147,000 after acquiring an additional 88 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Watsco by 39.3% in the first quarter. Koshinski Asset Management Inc. now owns 1,523 shares of the construction company’s stock worth $554,000 after acquiring an additional 430 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Watsco by 15.4% during the 1st quarter. V Square Quantitative Management LLC now owns 471 shares of the construction company’s stock valued at $171,000 after purchasing an additional 63 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. DA Davidson initiated coverage on shares of Watsco in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $385.00 target price for the company. Finally, Stephens lifted their target price on Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $397.71.

Watsco Price Performance

Shares of NYSE WSO traded down $7.12 during trading hours on Tuesday, reaching $391.94. The stock had a trading volume of 46,541 shares, compared to its average volume of 428,057. The business’s fifty day moving average is $398.23 and its two-hundred day moving average is $390.34. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 32.54 and a beta of 1.02. Watsco, Inc. has a twelve month low of $323.05 and a twelve month high of $494.94.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that Watsco, Inc. will post 12.66 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 16th will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 16th. Watsco’s payout ratio is 109.54%.

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.