International Assets Investment Management LLC Purchases 204,112 Shares of Watsco, Inc. $WSO

International Assets Investment Management LLC lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 22,985.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,000 shares of the construction company’s stock after purchasing an additional 204,112 shares during the period. International Assets Investment Management LLC owned 0.50% of Watsco worth $62,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in Watsco in the 3rd quarter valued at $34,000. Western Wealth Management LLC bought a new stake in shares of Watsco in the first quarter valued at about $41,000. Versant Capital Management Inc boosted its position in shares of Watsco by 293.3% in the second quarter. Versant Capital Management Inc now owns 118 shares of the construction company’s stock valued at $49,000 after acquiring an additional 88 shares during the period. GK Wealth Management LLC bought a new stake in shares of Watsco in the third quarter valued at about $63,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Watsco in the second quarter valued at about $67,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WSO. Weiss Ratings downgraded shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, October 6th. Morgan Stanley decreased their target price on shares of Watsco from $370.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Monday, October 12th. Stephens reiterated an “overweight” rating and set a $485.00 price target on shares of Watsco in a report on Monday, August 17th. DA Davidson lowered their price target on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $373.62.

Watsco Price Performance

Shares of NYSE WSO opened at $303.58 on Friday. The company has a 50 day simple moving average of $305.79 and a 200 day simple moving average of $365.71. The firm has a market cap of $12.52 billion, a PE ratio of 26.82 and a beta of 1.06. Watsco, Inc. has a 1 year low of $277.34 and a 1 year high of $459.00.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, October 27th. The construction company reported $3.77 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.33). Watsco had a return on equity of 13.97% and a net margin of 6.31%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that Watsco, Inc. will post 11.72 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Friday, October 16th. This represents a $13.20 annualized dividend and a dividend yield of 4.3%. Watsco’s dividend payout ratio (DPR) is presently 116.61%.

Watsco Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and light commercial air-conditioning and heating systems, refrigeration equipment, replacement parts, and other supplies used by contractors and service professionals.

Watsco distributes products from leading HVAC/R manufacturers, including equipment and components such as air conditioners, heat pumps, furnaces, air handlers, thermostats, controls, motors and indoor air-quality products.