Boston Family Office LLC Makes New Investment in Watsco, Inc. $WSO

Boston Family Office LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 835 shares of the construction company’s stock, valued at approximately $369,000.

Several other hedge funds have also made changes to their positions in WSO. Trust Co. of Vermont lifted its position in Watsco by 10.2% during the second quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock worth $105,000 after buying an additional 22 shares during the period. Cary Street Partners Financial LLC increased its stake in shares of Watsco by 2.2% during the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock valued at $545,000 after acquiring an additional 23 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Watsco by 4.8% during the 1st quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock worth $256,000 after acquiring an additional 23 shares during the period. Synovus Financial Corp boosted its position in shares of Watsco by 5.9% in the first quarter. Synovus Financial Corp now owns 522 shares of the construction company’s stock worth $265,000 after acquiring an additional 29 shares during the last quarter. Finally, KBC Group NV grew its holdings in Watsco by 0.7% in the second quarter. KBC Group NV now owns 4,700 shares of the construction company’s stock valued at $2,076,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $341.53 on Tuesday. The business’s 50-day moving average is $365.92 and its two-hundred day moving average is $410.95. The firm has a market capitalization of $13.85 billion, a PE ratio of 26.68 and a beta of 0.93. Watsco, Inc. has a 12 month low of $323.05 and a 12 month high of $552.32.

Watsco (NYSE:WSO) last issued its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The company had revenue of $2.07 billion during the quarter. Equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.5%. Watsco’s dividend payout ratio (DPR) is 93.75%.

Analysts Set New Price Targets

A number of research firms have weighed in on WSO. Mizuho cut their price target on shares of Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. UBS Group dropped their price objective on Watsco from $425.00 to $390.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Zacks Research cut Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Watsco has a consensus rating of “Hold” and an average target price of $435.00.

Watsco Company 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.