Running Oak Capital LLC Acquires 2,203 Shares of Watsco, Inc. $WSO

Running Oak Capital LLC boosted its holdings in Watsco, Inc. (NYSE:WSO) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,594 shares of the construction company’s stock after buying an additional 2,203 shares during the quarter. Running Oak Capital LLC owned approximately 0.10% of Watsco worth $15,604,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Watsco by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,485,996 shares of the construction company’s stock valued at $656,036,000 after purchasing an additional 31,484 shares in the last quarter. Captrust Financial Advisors lifted its stake in Watsco by 0.3% in the 2nd quarter. Captrust Financial Advisors now owns 389,104 shares of the construction company’s stock valued at $171,836,000 after purchasing an additional 1,234 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in Watsco by 1.9% in the 2nd quarter. Hamlin Capital Management LLC now owns 357,837 shares of the construction company’s stock valued at $158,028,000 after purchasing an additional 6,566 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Watsco by 11.2% in the third quarter. DAVENPORT & Co LLC now owns 356,844 shares of the construction company’s stock valued at $143,748,000 after buying an additional 36,010 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Watsco by 106.4% during the second quarter. Corient Private Wealth LLC now owns 296,170 shares of the construction company’s stock worth $130,801,000 after buying an additional 152,662 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of WSO opened at $387.00 on Tuesday. The business has a 50-day moving average of $359.12 and a 200-day moving average of $382.53. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 30.23 and a beta of 1.04. Watsco, Inc. has a 1 year low of $323.05 and a 1 year high of $535.40.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were given a dividend of $3.00 per share. The ex-dividend date was Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. Watsco’s dividend payout ratio is 93.75%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group began coverage on Watsco in a research note on Monday, January 5th. They issued a “neutral” rating and a $370.00 price target for the company. JPMorgan Chase & Co. increased their target price on Watsco from $360.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. William Blair restated a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. KeyCorp reiterated a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. Finally, Wolfe Research set a $349.00 target price on shares of Watsco in a research report on Tuesday, December 9th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $404.14.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.