nVerses Capital LLC Has $935,000 Position in Watsco, Inc. (NYSE:WSO)

nVerses Capital LLC increased its position in shares of Watsco, Inc. (NYSE:WSO) by 58.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,900 shares of the construction company’s stock after purchasing an additional 700 shares during the quarter. nVerses Capital LLC’s holdings in Watsco were worth $935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank bought a new stake in Watsco during the first quarter worth about $25,000. EntryPoint Capital LLC lifted its position in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Quarry LP bought a new stake in Watsco during the second quarter worth about $26,000. ORG Partners LLC bought a new position in shares of Watsco in the first quarter worth about $31,000. Finally, Tortoise Investment Management LLC increased its stake in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the period. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of Watsco from $522.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday.

Watsco Price Performance

Shares of WSO traded up $4.62 during midday trading on Thursday, hitting $499.23. 31,343 shares of the company traded hands, compared to its average volume of 289,050. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The stock has a 50-day moving average of $480.15 and a 200-day moving average of $471.32. The firm has a market cap of $20.12 billion, a P/E ratio of 38.05 and a beta of 0.88. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.70 by ($0.21). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.42 EPS. As a group, sell-side analysts predict that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.08%.

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.