Watsco, Inc. (NYSE:WSO) Shares Purchased by Oak Ridge Investments LLC

Oak Ridge Investments LLC lifted its holdings in Watsco, Inc. (NYSE:WSO) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,962 shares of the construction company’s stock after acquiring an additional 84 shares during the period. Oak Ridge Investments LLC’s holdings in Watsco were worth $909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC boosted its holdings in Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Watsco in the fourth quarter valued at $25,000. First PREMIER Bank acquired a new stake in Watsco during the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new stake in Watsco during the 4th quarter worth $28,000. Finally, ORG Partners LLC acquired a new position in Watsco in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO traded up $6.93 during mid-day trading on Thursday, hitting $482.00. The stock had a trading volume of 64,509 shares, compared to its average volume of 310,682. Watsco, Inc. has a fifty-two week low of $337.58 and a fifty-two week high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.44 billion, a PE ratio of 36.57 and a beta of 0.88. The company’s fifty day simple moving average is $480.74 and its two-hundred day simple moving average is $446.38.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm earned $4.42 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post 13.89 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.24%. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. Finally, Robert W. Baird upped their target price on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $433.71.

Watsco Company Profile

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.