Watsco, Inc. (NYSE:WSO) Stake Increased by CreativeOne Wealth LLC

CreativeOne Wealth LLC raised its position in shares of Watsco, Inc. (NYSE:WSO) by 21.5% during the 3rd quarter, according to its most recent disclosure 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.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Watsco by 256.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after purchasing an additional 2,427 shares during the period. Gateway Investment Advisers LLC acquired a new position in Watsco during the 2nd quarter valued at about $2,109,000. Citizens Financial Group Inc. RI grew its position in Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 929 shares during the last quarter. Markel Group Inc. increased its stake in shares of Watsco by 0.9% in the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after purchasing an additional 5,000 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Watsco stock opened at $554.67 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The stock has a market capitalization of $22.40 billion, a PE ratio of 42.86 and a beta of 0.88. The firm has a 50 day simple moving average of $504.14 and a 200-day simple moving average of $486.93.

Watsco (NYSE:WSO) last issued its quarterly earnings results 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business posted $4.35 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

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

Analysts Set New Price Targets

WSO has been the subject of a number of recent analyst reports. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

About Watsco

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.