Perfromance Wealth Partners LLC Purchases 101 Shares of Watsco, Inc. (NYSE:WSO)

Perfromance Wealth Partners LLC grew its position in shares of Watsco, Inc. (NYSE:WSO) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the construction company’s stock after buying an additional 101 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Watsco were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of WSO. Massmutual Trust Co. FSB ADV increased its position in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC raised its position in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the period. Mather Group LLC. raised its position in Watsco by 10.2% in the second quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after acquiring an additional 27 shares during the period. EntryPoint Capital LLC boosted its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after acquiring an additional 29 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its stake in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their price target on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Watsco Price Performance

NYSE:WSO traded up $7.29 during mid-day trading on Friday, hitting $491.58. 240,063 shares of the stock traded hands, compared to its average volume of 230,536. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.83 billion, a PE ratio of 37.58 and a beta of 0.88. The business’s 50-day moving average price is $478.24 and its 200 day moving average price is $469.70.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing the consensus estimate 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%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.42 EPS. On average, analysts expect that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 82.63%.

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.