Curat Global LLC Acquires Shares of 460 Watsco, Inc. (NYSE:WSO)

by · The Cerbat Gem

Curat Global LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 460 shares of the construction company’s stock, valued at approximately $234,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Watsco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock valued at $1,714,586,000 after purchasing an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. increased its position in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after purchasing an additional 118,713 shares during the period. Geode Capital Management LLC increased its position in Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock valued at $343,168,000 after purchasing an additional 20,856 shares during the period. Markel Group Inc. increased its position in Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock valued at $279,832,000 after purchasing an additional 8,000 shares during the period. Finally, GAMMA Investing LLC increased its position in Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock valued at $242,867,000 after purchasing an additional 477,268 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of Watsco stock opened at $441.57 on Friday. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of 33.33 and a beta of 1.11. The firm’s 50-day moving average is $474.65 and its 200 day moving average is $491.62. Watsco, Inc. has a 1 year low of $430.20 and a 1 year high of $571.42.

Watsco (NYSE:WSO – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 EPS. On average, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 annualized dividend and a yield of 2.72%. This is a boost from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is currently 92.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Watsco in a report on Monday, April 14th. They set an “equal weight” rating and a $515.00 target price on the stock. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $486.67.

Check Out Our Latest Stock Analysis on Watsco

Watsco Company Profile

(Free Report)

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.

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