First Horizon Advisors Inc. Has $220,000 Holdings in Watsco, Inc. (NYSE:WSO)

First Horizon Advisors Inc. boosted its position in Watsco, Inc. (NYSE:WSO) by 8.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 474 shares of the construction company’s stock after purchasing an additional 36 shares during the period. First Horizon Advisors Inc.’s holdings in Watsco were worth $220,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in shares of Watsco during the 4th quarter valued at approximately $25,000. First PREMIER Bank purchased a new stake in Watsco in the 1st quarter worth approximately $25,000. EntryPoint Capital LLC raised its position in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Watsco during the 4th quarter valued at $28,000. Finally, ORG Partners LLC bought a new position in shares of Watsco during the 1st quarter valued at $31,000. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of NYSE WSO traded down $3.01 during midday trading on Tuesday, reaching $473.38. The stock had a trading volume of 17,580 shares, compared to its average volume of 307,509. The stock has a 50-day moving average of $481.58 and a 200-day moving average of $448.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 36.51 and a beta of 0.88. Watsco, Inc. has a 12-month low of $338.58 and a 12-month 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 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $4.42 EPS. Watsco’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Watsco, Inc. will post 13.88 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. Watsco’s dividend payout ratio is 83.08%.

Analysts Set New Price Targets

Several equities analysts recently commented on WSO shares. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Watsco in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment 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 presently has a consensus rating of “Hold” and an average price target of $433.71.

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.