Buck Wealth Strategies LLC Has $6.63 Million Stock Position in Watsco, Inc. (NYSE:WSO)

by · The Markets Daily

Buck Wealth Strategies LLC decreased its holdings in Watsco, Inc. (NYSE:WSO – Free Report) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,477 shares of the construction company’s stock after selling 1,609 shares during the quarter. Watsco accounts for about 2.1% of Buck Wealth Strategies LLC’s holdings, making the stock its 25th biggest position. Buck Wealth Strategies LLC’s holdings in Watsco were worth $6,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WSO. EntryPoint Capital LLC lifted its stake in shares of Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares during the last quarter. Quarry LP bought a new stake in shares of Watsco during the second quarter worth approximately $26,000. Tortoise Investment Management LLC grew its position in shares of Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in 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 purchasing an additional 22 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on WSO shares. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Check Out Our Latest Stock Analysis on Watsco

Watsco Stock Down 0.7 %

WSO stock opened at $533.36 on Wednesday. The company’s 50-day moving average price is $487.73 and its two-hundred day moving average price is $480.99. Watsco, Inc. has a 12 month low of $372.63 and a 12 month high of $540.23. The firm has a market cap of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88.

Watsco (NYSE:WSO – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business posted $4.35 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 13.2 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.02%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

About Watsco

(Free Report)

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.

See Also

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