Watsco, Inc. (NYSE:WSO) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 3,571.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138 shares of the construction company’s stock after purchasing an additional 1,107 shares during the quarter. Larson Financial Group LLC’s holdings in Watsco were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. J. W. Coons Advisors LLC raised its position in shares of Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after acquiring an additional 20 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the last quarter. CWM LLC boosted its holdings in shares of Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after buying an additional 24 shares in the last quarter. MCF Advisors LLC grew its position in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the last quarter. Finally, Equitable Trust Co. raised its stake in Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WSO. JPMorgan Chase & Co. lifted their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a report on Friday. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Price Performance

NYSE:WSO opened at $568.51 on Tuesday. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 43.93 and a beta of 0.88. The firm’s fifty day moving average price is $501.60 and its 200 day moving average price is $485.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

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). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.35 earnings per share. As a group, analysts expect that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.90%. Watsco’s dividend payout ratio is currently 83.46%.

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.