LaFleur & Godfrey LLC Has $4.30 Million Position in Watsco, Inc. (WSO)
LaFleur & Godfrey LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 27,875 shares of the construction company’s stock after buying an additional 250 shares during the period. LaFleur & Godfrey LLC’s holdings in Watsco were worth $4,298,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in WSO. UBS Group AG increased its stake in shares of Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Watsco during the first quarter worth $463,000. Point72 Asset Management L.P. purchased a new stake in shares of Watsco during the first quarter worth $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares in the last quarter. Institutional investors and hedge funds own 81.16% of the company’s stock.
Shares of Watsco, Inc. (NYSE WSO) opened at 147.33 on Friday. The company has a market capitalization of $4.82 billion, a PE ratio of 27.24 and a beta of 0.83. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $159.55. The company’s 50-day moving average price is $151.74 and its 200-day moving average price is $147.07.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Watsco, Inc. will post $5.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were paid a $1.25 dividend. The ex-dividend date was Thursday, July 13th. This is a positive change from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a yield of 3.39%. Watsco’s payout ratio is 93.11%.
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A number of analysts recently weighed in on WSO shares. Zacks Investment Research downgraded shares of Watsco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Stifel Nicolaus reissued a “buy” rating and set a $176.00 target price (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $160.00 in a research note on Wednesday, April 26th. BidaskClub cut Watsco from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Morgan Stanley reissued an “underweight” rating and set a $141.00 target price (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $163.20.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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