1,951 Shares in Watsco, Inc. $WSO Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new stake in shares of Watsco, Inc. (NYSE:WSO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,951 shares of the construction company’s stock, valued at approximately $813,000.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC bought a new position in Watsco in the 4th quarter worth about $26,000. Bayban purchased a new stake in shares of Watsco in the fourth quarter worth about $29,000. Bamco Inc. NY purchased a new stake in shares of Watsco in the fourth quarter worth about $35,000. Laurel Wealth Advisors LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $37,000. Finally, Quarry LP purchased a new position in Watsco during the fourth quarter valued at approximately $37,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of WSO stock opened at $312.65 on Monday. The company has a market capitalization of $12.90 billion, a P/E ratio of 27.12 and a beta of 1.05. Watsco, Inc. has a fifty-two week low of $300.66 and a fifty-two week high of $459.00. The stock has a 50 day moving average price of $369.74 and a two-hundred day moving average price of $388.24.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.41). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Watsco had a return on equity of 14.40% and a net margin of 6.53%.The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.52 earnings per share. As a group, equities analysts predict that Watsco, Inc. will post 12.43 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 16th were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 114.48%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens raised their price target on shares of Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $400.00 target price on Watsco in a research note on Thursday, July 30th. Morgan Stanley lifted their price target on Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Finally, DA Davidson cut their target price on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $395.50.

Watsco 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.