LaFleur & Godfrey LLC Buys 1,122 Shares of Watsco, Inc. $WSO

LaFleur & Godfrey LLC raised its holdings in Watsco, Inc. (NYSE:WSO) by 2.9% during the second quarter, HoldingsChannel.com reports. The fund owned 39,378 shares of the construction company’s stock after purchasing an additional 1,122 shares during the period. Watsco makes up about 2.2% of LaFleur & Godfrey LLC’s holdings, making the stock its 14th biggest holding. LaFleur & Godfrey LLC’s holdings in Watsco were worth $17,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Watsco in the first quarter valued at about $25,000. Manitou Investment Management Ltd. bought a new position in Watsco in the first quarter valued at about $25,000. WPG Advisers LLC bought a new position in Watsco in the first quarter valued at about $25,000. TCTC Holdings LLC grew its position in Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. Finally, City Holding Co. bought a new position in Watsco in the first quarter valued at about $29,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WSO. UBS Group decreased their target price on Watsco from $455.00 to $450.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 25th. Morgan Stanley set a $505.00 target price on Watsco in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $484.17.

Watsco Stock Performance

Shares of WSO opened at $389.93 on Monday. Watsco, Inc. has a 52-week low of $378.35 and a 52-week high of $571.41. The business’s 50 day moving average price is $425.83 and its two-hundred day moving average price is $455.99. The firm has a market cap of $15.81 billion, a PE ratio of 29.90 and a beta of 0.96.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $4.49 earnings per share. Watsco’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $12.00 annualized dividend and a yield of 3.1%. Watsco’s payout ratio is 92.02%.

Watsco 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.