2,319 Shares in Watsco, Inc. $WSO Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,319 shares of the construction company’s stock, valued at approximately $966,000.

Other large investors also recently bought and sold shares of the company. Torren Management LLC purchased a new position in shares of Watsco during the fourth quarter worth about $26,000. Bayban purchased a new stake in shares of Watsco in the 4th quarter valued at about $29,000. Bamco Inc. NY purchased a new stake in shares of Watsco in the 4th quarter valued at about $35,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $37,000. Finally, Quarry LP acquired a new stake in shares of Watsco in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO opened at $313.60 on Friday. Watsco, Inc. has a fifty-two week low of $295.75 and a fifty-two week high of $459.00. The firm has a 50-day simple moving average of $356.85 and a 200-day simple moving average of $383.01. The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 27.20 and a beta of 1.05.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.41). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.14 billion. Watsco had a net margin of 6.53% and a return on equity of 14.40%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.52 EPS. Equities research analysts forecast that Watsco, Inc. will post 12.21 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio (DPR) is 114.48%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stephens restated an “overweight” rating and set a $485.00 price target on shares of Watsco in a research note on Monday, August 17th. DA Davidson decreased their price objective on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. Finally, Morgan Stanley lifted their target price on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $395.50.

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.