Watsco, Inc. (NYSE:WSO) Shares Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC grew its position in Watsco, Inc. (NYSE:WSO) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,820 shares of the construction company’s stock after buying an additional 499 shares during the quarter. CreativeOne Wealth LLC’s holdings in Watsco were worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Watsco in the 3rd quarter valued at about $1,608,000. Blueshift Asset Management LLC purchased a new stake in Watsco in the third quarter valued at approximately $241,000. Cynosure Group LLC increased its position in Watsco by 5.0% during the third quarter. Cynosure Group LLC now owns 860 shares of the construction company’s stock worth $423,000 after purchasing an additional 41 shares during the last quarter. Townsquare Capital LLC raised its stake in Watsco by 2.7% during the third quarter. Townsquare Capital LLC now owns 23,769 shares of the construction company’s stock worth $11,687,000 after purchasing an additional 631 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Watsco by 32.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,585 shares of the construction company’s stock worth $10,125,000 after buying an additional 5,034 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

WSO stock opened at $554.67 on Friday. The stock has a 50-day simple moving average of $504.14 and a 200-day simple moving average of $486.93. The firm has a market cap of $22.40 billion, a P/E ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

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

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. Watsco’s payout ratio is currently 83.46%.

Analyst Ratings Changes

Several research analysts recently commented on WSO shares. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $491.25.

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.