EverSource Wealth Advisors LLC Boosts Position in Watsco, Inc. (NYSE:WSO)

EverSource Wealth Advisors LLC raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 10.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,109 shares of the construction company’s stock after buying an additional 400 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Watsco were worth $2,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. EntryPoint Capital LLC grew its holdings in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares in the last quarter. Quarry LP purchased a new position in shares of Watsco during the second quarter worth about $26,000. Tortoise Investment Management LLC grew its holdings in shares of Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after purchasing an additional 32 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Watsco during the third quarter worth about $43,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Watsco by 30.6% during the third 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 in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $533.40 on Thursday. The business has a 50 day moving average of $496.90 and a 200 day moving average of $484.03. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 41.22 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $545.49.

Watsco (NYSE:WSO) last released 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 return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a $2.70 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.02%. Watsco’s payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

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

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.