Principal Financial Group Inc. raised its position in shares of Watsco Inc. (NYSE:WSO) by 13.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 99,564 shares of the company’s stock after buying an additional 12,163 shares during the period. Principal Financial Group Inc. owned about 0.31% of Watsco worth $14,008,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in Watsco during the second quarter worth $120,000. Creative Planning boosted its stake in Watsco by 1.8% in the second quarter. Creative Planning now owns 966 shares of the company’s stock worth $136,000 after buying an additional 17 shares during the period. Gray Financial Group GA ADV ADV acquired a new stake in Watsco during the second quarter worth $141,000. Seven Eight Capital LLC boosted its stake in Watsco by 275.0% in the first quarter. Seven Eight Capital LLC now owns 1,500 shares of the company’s stock worth $202,000 after buying an additional 1,100 shares during the period. Finally, Advisor Partners LLC acquired a new stake in Watsco during the first quarter worth $204,000. 67.33% of the stock is currently owned by institutional investors.
Watsco Inc. (NYSE:WSO) opened at 144.32 on Friday. The firm’s 50-day moving average is $144.05 and its 200 day moving average is $138.59. The stock has a market capitalization of $4.70 billion, a PE ratio of 29.24 and a beta of 0.94. Watsco Inc. has a 52-week low of $106.58 and a 52-week high of $149.99.
Watsco (NYSE:WSO) last announced its earnings results on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.22. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. Watsco’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts forecast that Watsco Inc. will post $5.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Watsco’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, October 13th. Watsco’s dividend payout ratio is presently 69.11%.
Several equities research analysts recently commented on WSO shares. JPMorgan Chase & Co. dropped their target price on Watsco from $131.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Stifel Nicolaus dropped their target price on Watsco from $154.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 25th. Barclays PLC set a $113.00 target price on Watsco and gave the stock a “sell” rating in a report on Monday, July 25th. Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Finally, Seaport Global Securities cut Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 target price on the stock. in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Watsco currently has a consensus rating of “Hold” and a consensus target price of $138.50.
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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