Watsco, Inc. (NYSE:WSO) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 3,571.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,138 shares of the construction company’s stock after purchasing an additional 1,107 shares during the quarter. Larson Financial Group LLC’s holdings in Watsco were worth $560,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. KKM Financial LLC acquired a new position in shares of Watsco during the 3rd quarter worth $250,000. Cerity Partners LLC increased its holdings in Watsco by 90.0% during the 3rd quarter. Cerity Partners LLC now owns 10,632 shares of the construction company’s stock valued at $5,230,000 after acquiring an additional 5,036 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in Watsco by 47.1% during the third quarter. Great Valley Advisor Group Inc. now owns 8,793 shares of the construction company’s stock worth $4,324,000 after acquiring an additional 2,816 shares during the last quarter. Nicolet Advisory Services LLC grew its position in shares of Watsco by 3.7% in the third quarter. Nicolet Advisory Services LLC now owns 1,549 shares of the construction company’s stock valued at $750,000 after purchasing an additional 55 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its position in shares of Watsco by 31.1% in the third quarter. Icon Wealth Advisors LLC now owns 1,409 shares of the construction company’s stock valued at $693,000 after purchasing an additional 334 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

WSO stock opened at $568.51 on Tuesday. The company has a 50 day moving average price of $501.60 and a two-hundred day moving average price of $485.95. The stock has a market capitalization of $22.96 billion, a P/E ratio of 43.93 and a beta of 0.88. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm earned $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.90%. Watsco’s payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the subject of several research reports. Northcoast Research assumed coverage on Watsco in a research report on Friday. They set a “neutral” rating for the company. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $491.25.

Watsco 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.