Watsco, Inc. (NYSE:WSO) Stake Boosted by Creative Planning
Creative Planning increased its position in Watsco, Inc. (NYSE:WSO) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,039 shares of the construction company’s stock after buying an additional 60 shares during the period. Creative Planning’s holdings in Watsco were worth $160,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of WSO. BlackRock Inc. boosted its position in Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock worth $380,367,000 after buying an additional 2,610,583 shares during the period. Vanguard Group Inc. boosted its position in Watsco by 26.7% in the first quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock worth $351,379,000 after buying an additional 517,615 shares during the period. FMR LLC boosted its position in Watsco by 5.4% in the first quarter. FMR LLC now owns 924,472 shares of the construction company’s stock worth $132,366,000 after buying an additional 47,626 shares during the period. JPMorgan Chase & Co. boosted its position in Watsco by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 835,734 shares of the construction company’s stock worth $119,661,000 after buying an additional 60,535 shares during the period. Finally, State Street Corp boosted its position in Watsco by 12.0% in the first quarter. State Street Corp now owns 748,542 shares of the construction company’s stock worth $107,170,000 after buying an additional 80,199 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.
Watsco, Inc. (NYSE:WSO) traded down 0.05% during midday trading on Friday, hitting $147.64. 41,295 shares of the company traded hands. The stock has a 50 day moving average of $151.96 and a 200 day moving average of $147.09. The stock has a market cap of $4.83 billion, a P/E ratio of 27.30 and a beta of 0.83. Watsco, Inc. has a 12-month low of $128.60 and a 12-month high of $159.55.
Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. Watsco’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 earnings per share. Equities research analysts predict that Watsco, Inc. will post $5.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were issued a dividend of $1.25 per share. This is a positive change from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, July 13th. Watsco’s payout ratio is presently 93.11%.
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WSO has been the topic of a number of recent analyst reports. BidaskClub raised shares of Watsco from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $141.00 price target (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $176.00 price target (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Wolfe Research initiated coverage on shares of Watsco in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $163.20.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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