Treasurer of the State of North Carolina lifted its position in Watsco Inc (NYSE:WSO) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,772 shares of the construction company’s stock after acquiring an additional 2,473 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Watsco were worth $2,579,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC raised its holdings in shares of Watsco by 4.2% in the second quarter. TrinityPoint Wealth LLC now owns 1,798 shares of the construction company’s stock valued at $294,000 after acquiring an additional 72 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Watsco by 1.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,940 shares of the construction company’s stock valued at $971,000 after acquiring an additional 80 shares in the last quarter. Creative Planning raised its holdings in shares of Watsco by 6.5% in the second quarter. Creative Planning now owns 1,532 shares of the construction company’s stock valued at $251,000 after acquiring an additional 93 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Watsco by 54.2% in the second quarter. Advisory Services Network LLC now owns 273 shares of the construction company’s stock valued at $45,000 after acquiring an additional 96 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Watsco by 4.6% in the second quarter. Commonwealth Equity Services LLC now owns 2,254 shares of the construction company’s stock valued at $368,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.
WSO has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Watsco from a “hold” rating to a “sell” rating and set a $167.00 target price for the company. in a report on Saturday, August 3rd. Buckingham Research boosted their target price on shares of Watsco from $148.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday.
Watsco (NYSE:WSO) last announced its earnings results on Thursday, July 18th. The construction company reported $2.40 EPS for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.14). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Watsco had a return on equity of 14.63% and a net margin of 5.17%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 earnings per share. On average, equities analysts predict that Watsco Inc will post 6.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $1.60 dividend. The ex-dividend date is Friday, October 11th. This represents a $6.40 dividend on an annualized basis and a yield of 3.86%. Watsco’s dividend payout ratio is presently 98.61%.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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