Watsco, Inc. $WSO Shares Purchased by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 105,692 shares of the construction company’s stock after buying an additional 500 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Watsco were worth $46,676,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. TrueMark Investments LLC acquired a new stake in shares of Watsco during the 2nd quarter worth approximately $5,137,000. Koshinski Asset Management Inc. increased its stake in Watsco by 117.1% during the second quarter. Koshinski Asset Management Inc. now owns 990 shares of the construction company’s stock worth $437,000 after acquiring an additional 534 shares during the last quarter. Hamlin Capital Management LLC increased its stake in Watsco by 1.9% during the second quarter. Hamlin Capital Management LLC now owns 357,837 shares of the construction company’s stock worth $158,028,000 after acquiring an additional 6,566 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Watsco by 3.9% in the second quarter. Stratos Wealth Partners LTD. now owns 24,952 shares of the construction company’s stock valued at $11,019,000 after purchasing an additional 948 shares during the period. Finally, Praxis Investment Management Inc. lifted its stake in shares of Watsco by 35.1% in the 2nd quarter. Praxis Investment Management Inc. now owns 1,270 shares of the construction company’s stock valued at $561,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Watsco from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Watsco in a research note on Wednesday, October 8th. William Blair restated a “market perform” rating on shares of Watsco in a report on Wednesday. Finally, Mizuho dropped their target price on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $447.50.

Watsco Price Performance

Shares of NYSE:WSO opened at $371.41 on Monday. The firm has a market capitalization of $15.06 billion, a PE ratio of 28.48 and a beta of 0.94. Watsco, Inc. has a 1 year low of $350.00 and a 1 year high of $571.41. The firm’s 50-day moving average is $398.64 and its two-hundred day moving average is $439.38.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $4.49 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.2%. Watsco’s dividend payout ratio is currently 92.02%.

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.