CreativeOne Wealth LLC Acquires 630 Shares of Watsco, Inc. (NYSE:WSO)

CreativeOne Wealth LLC lifted its holdings in Watsco, Inc. (NYSE:WSO) by 32.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,581 shares of the construction company’s stock after acquiring an additional 630 shares during the period. CreativeOne Wealth LLC’s holdings in Watsco were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after acquiring an additional 62,593 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Watsco by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock worth $19,168,000 after acquiring an additional 1,650 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Watsco by 12.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock worth $109,287,000 after acquiring an additional 28,047 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Watsco in the 4th quarter worth about $751,000. Finally, Benchmark Financial Wealth Advisors LLC bought a new position in shares of Watsco in the 4th quarter worth about $536,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Up 4.1 %

WSO stock traded up $19.91 during mid-day trading on Friday, reaching $510.55. 253,422 shares of the company traded hands, compared to its average volume of 252,736. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 39.27 and a beta of 0.88. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a fifty-two week low of $337.58 and a fifty-two week high of $520.41. The firm’s 50 day moving average price is $481.66 and its 200 day moving average price is $439.33.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $2.83 EPS. As a group, equities research analysts predict that Watsco, Inc. will post 14.1 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Insider Buying and Selling

In related news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the sale, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on WSO shares. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $410.57.

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.