Capital Advisors Inc. OK Increases Stock Holdings in Watsco, Inc. $WSO

Capital Advisors Inc. OK increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 60,546 shares of the construction company’s stock after acquiring an additional 637 shares during the period. Capital Advisors Inc. OK’s holdings in Watsco were worth $26,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WSO. Yarbrough Capital LLC purchased a new position in shares of Watsco during the 1st quarter valued at approximately $364,000. First Citizens Bank & Trust Co. lifted its position in shares of Watsco by 34.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 906 shares of the construction company’s stock valued at $461,000 after buying an additional 232 shares in the last quarter. Fenimore Asset Management Inc lifted its position in shares of Watsco by 0.4% during the 1st quarter. Fenimore Asset Management Inc now owns 58,405 shares of the construction company’s stock valued at $29,687,000 after buying an additional 225 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of Watsco by 4.7% during the 1st quarter. Portside Wealth Group LLC now owns 3,044 shares of the construction company’s stock valued at $1,547,000 after buying an additional 138 shares in the last quarter. Finally, City Holding Co. acquired a new position in Watsco in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 1.1%

Shares of WSO opened at $415.70 on Monday. Watsco, Inc. has a 52-week low of $378.35 and a 52-week high of $571.41. The company has a market capitalization of $16.86 billion, a PE ratio of 31.88 and a beta of 0.94. The stock has a fifty day simple moving average of $410.44 and a two-hundred day simple moving average of $448.50.

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

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 92.02%.

Analysts Set New Price Targets

Several research analysts recently commented on WSO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Watsco in a research note on Saturday, September 27th. Morgan Stanley set a $505.00 price objective on Watsco in a research note on Wednesday, July 2nd. Finally, UBS Group reduced their price objective on Watsco from $450.00 to $425.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $480.00.

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.