EverSource Wealth Advisors LLC Buys 400 Shares of Watsco, Inc. (NYSE:WSO)

EverSource Wealth Advisors LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,109 shares of the construction company’s stock after acquiring an additional 400 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Watsco were worth $2,021,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Watsco during the second quarter valued at approximately $26,000. EntryPoint Capital LLC grew its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Tortoise Investment Management LLC grew its stake in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Watsco in the third quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WSO has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

Watsco Trading Up 0.0 %

NYSE WSO opened at $533.40 on Thursday. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $545.49. The stock has a market cap of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88. The stock’s fifty day moving average price is $496.90 and its 200-day moving average price is $484.03.

Watsco (NYSE:WSO) last released its earnings results 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 return on equity of 17.77% and a net margin of 6.99%. The company 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 company posted $4.35 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.02%. Watsco’s dividend payout ratio is currently 83.46%.

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.