Jupiter Topco LLC Purchases Shares of 2,237 Watsco, Inc. $WSO

Jupiter Topco LLC acquired a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,237 shares of the construction company’s stock, valued at approximately $933,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WSO. Bayban purchased a new position in shares of Watsco during the 4th quarter worth approximately $29,000. Bamco Inc. NY purchased a new position in Watsco during the fourth quarter worth $35,000. Quarry LP acquired a new position in Watsco in the 4th quarter valued at about $37,000. Western Wealth Management LLC acquired a new stake in Watsco during the first quarter worth approximately $41,000. Finally, Resources Management Corp CT ADV grew its position in shares of Watsco by 150.0% in the fourth quarter. Resources Management Corp CT ADV now owns 125 shares of the construction company’s stock valued at $42,000 after purchasing an additional 75 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of Watsco stock opened at $314.52 on Friday. Watsco, Inc. has a 1-year low of $295.75 and a 1-year high of $459.00. The company has a market capitalization of $12.97 billion, a PE ratio of 27.28 and a beta of 1.05. The business has a 50-day moving average of $346.18 and a 200-day moving average of $378.73.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $4.52 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that Watsco, Inc. will post 12.21 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 16th were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s payout ratio is 114.48%.

Analyst Ratings Changes

Several research analysts recently weighed in on WSO shares. Robert W. Baird set a $400.00 target price on Watsco in a research report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and set a $485.00 price target on shares of Watsco in a research report on Monday, August 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. Morgan Stanley upped their price target on shares of Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Finally, DA Davidson lowered their price target on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and an average target price of $395.50.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.