Creative Planning Buys 81 Shares of Watsco, Inc. (NYSE:WSO)

Posted by on Oct 14th, 2023

Creative Planning raised its stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 2.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,326 shares of the construction company’s stock after acquiring an additional 81 shares during the quarter. Creative Planning’s holdings in Watsco were worth $1,269,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC lifted its holdings in shares of Watsco by 78.1% during the first quarter. Colonial Trust Co SC now owns 114 shares of the construction company’s stock valued at $36,000 after acquiring an additional 50 shares during the period. Acadian Asset Management LLC bought a new position in shares of Watsco during the first quarter valued at $38,000. WealthPlan Investment Management LLC bought a new position in shares of Watsco during the first quarter valued at $39,000. Resurgent Financial Advisors LLC bought a new position in shares of Watsco during the fourth quarter valued at $39,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Watsco in the second quarter valued at $40,000. 89.49% of the stock is owned by institutional investors.

Watsco Price Performance

Shares of WSO stock opened at $382.61 on Friday. The stock has a 50-day moving average price of $362.78 and a 200 day moving average price of $351.93. The company has a quick ratio of 1.25, a current ratio of 3.02 and a debt-to-equity ratio of 0.14. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 5.09 and a beta of 0.93. Watsco, Inc. has a 12 month low of $228.61 and a 12 month high of $406.08.

Watsco (NYSE:WSO – Get Free Report) last issued its earnings results on Tuesday, August 1st. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.87 by ($0.45). Watsco had a return on equity of 22.94% and a net margin of 8.06%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business posted $4.93 EPS. Watsco’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts expect that Watsco, Inc. will post 14.05 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 17th will be issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 66.08%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WSO shares. Mizuho started coverage on Watsco in a research note on Monday, July 24th. They issued a “neutral” rating and a $360.00 target price for the company. JPMorgan Chase & Co. raised their target price on Watsco from $305.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Watsco in a research note on Monday, August 28th. UBS Group raised their target price on Watsco from $340.00 to $402.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com assumed coverage on Watsco in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $373.78.

Read Our Latest Research Report on Watsco

Watsco Profile

(Free Report)

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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