Access Financial Services Inc. Purchases 148 Shares of Watsco, Inc. $WSO

Access Financial Services Inc. increased its position in Watsco, Inc. (NYSE:WSO) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,560 shares of the construction company’s stock after purchasing an additional 148 shares during the period. Access Financial Services Inc.’s holdings in Watsco were worth $1,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WSO. Manitou Investment Management Ltd. bought a new position in Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Watsco in the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new position in shares of Watsco in the 1st quarter worth approximately $25,000. TCTC Holdings LLC lifted its stake in shares of 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 purchasing an additional 30 shares during the period. Finally, City Holding Co. bought a new position in shares of Watsco in the 1st quarter worth approximately $29,000. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.4%

Watsco stock opened at $402.60 on Thursday. The firm has a 50 day moving average of $413.38 and a 200 day moving average of $450.61. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 30.87 and a beta of 0.94. Watsco, Inc. has a 12-month low of $378.35 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $4.49 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is 92.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WSO shares. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. UBS Group reduced their target price on shares of Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $480.00.

About Watsco

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.