Blue Barn Wealth LLC Buys 62 Shares of Watsco, Inc. (NYSE:WSO)

Blue Barn Wealth LLC raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 11.4% in the second quarter, Holdings Channel reports. The institutional investor owned 605 shares of the construction company’s stock after buying an additional 62 shares during the quarter. Blue Barn Wealth LLC’s holdings in Watsco were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSO. Vanguard Group Inc. increased its holdings in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after acquiring an additional 146,305 shares during the period. Blair William & Co. IL boosted its stake in Watsco by 2.1% during the first quarter. Blair William & Co. IL now owns 792,011 shares of the construction company’s stock valued at $342,125,000 after buying an additional 16,487 shares during the period. Markel Group Inc. grew its position in Watsco by 0.9% during the second quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock worth $264,626,000 after buying an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Watsco by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock worth $182,068,000 after acquiring an additional 6,320 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Watsco by 4.8% in the 4th quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock valued at $145,690,000 after acquiring an additional 15,552 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 0.9 %

Shares of WSO opened at $449.55 on Friday. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The stock has a 50 day simple moving average of $479.66 and a two-hundred day simple moving average of $454.41. The firm has a market cap of $18.13 billion, a P/E ratio of 34.58 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. Watsco’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $4.42 EPS. On average, analysts forecast that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were issued a $2.70 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.40%. Watsco’s dividend payout ratio is currently 83.08%.

Analyst Ratings Changes

WSO has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of 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 increased their price target on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.71.

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.