Watsco, Inc. (NYSE:WSO) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 105.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 973 shares of the construction company’s stock after buying an additional 500 shares during the quarter. Atomi Financial Group Inc.’s holdings in Watsco were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Baird Financial Group Inc. increased its stake 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 purchasing an additional 15,552 shares in the last quarter. Prospect Financial Services LLC acquired a new stake in Watsco in the 4th quarter worth about $240,000. Virtu Financial LLC acquired a new position in shares of Watsco during the fourth quarter valued at approximately $763,000. Goldman Sachs Group Inc. lifted its position in shares of Watsco by 12.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock valued at $109,287,000 after acquiring an additional 28,047 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Watsco by 12.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 29,994 shares of the construction company’s stock worth $12,852,000 after purchasing an additional 3,339 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 3.3 %

Watsco stock opened at $484.04 on Friday. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.53 billion, a P/E ratio of 37.03 and a beta of 0.88. The stock’s fifty day simple moving average is $477.76 and its 200-day simple moving average is $469.28. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41.

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

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio is currently 82.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WSO shares. JPMorgan Chase & Co. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

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.