Watsco, Inc. $WSO Shares Purchased by Buckhead Capital Management LLC

Buckhead Capital Management LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 17.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,536 shares of the construction company’s stock after purchasing an additional 2,122 shares during the quarter. Watsco makes up approximately 1.4% of Buckhead Capital Management LLC’s holdings, making the stock its 20th biggest position. Buckhead Capital Management LLC’s holdings in Watsco were worth $4,400,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in shares of Watsco by 2.7% in the first quarter. Assetmark Inc. now owns 1,115 shares of the construction company’s stock worth $406,000 after buying an additional 29 shares during the last quarter. North Dakota State Investment Board grew its position in Watsco by 3.4% during the third quarter. North Dakota State Investment Board now owns 1,070 shares of the construction company’s stock valued at $324,000 after buying an additional 35 shares during the period. Financial Network Wealth Advisors LLC increased its holdings in Watsco by 17.5% during the third quarter. Financial Network Wealth Advisors LLC now owns 289 shares of the construction company’s stock valued at $88,000 after buying an additional 43 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Watsco by 2.7% during the third quarter. Crossmark Global Holdings Inc. now owns 1,689 shares of the construction company’s stock valued at $511,000 after buying an additional 45 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Watsco by 10.5% during the first quarter. Bessemer Group Inc. now owns 496 shares of the construction company’s stock valued at $181,000 after buying an additional 47 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 2.3%

WSO stock opened at $303.88 on Friday. The business’s 50-day moving average price is $305.99 and its 200-day moving average price is $364.09. The stock has a market cap of $12.54 billion, a P/E ratio of 26.84 and a beta of 1.03. Watsco, Inc. has a twelve month low of $277.34 and a twelve month high of $459.00.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, October 27th. The construction company reported $3.77 earnings per share (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 firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company posted $3.98 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Watsco, Inc. will post 11.70 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 16th were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, October 16th. Watsco’s dividend payout ratio is presently 116.61%.

Wall Street Analyst Weigh In

WSO has been the topic of several recent research reports. DA Davidson decreased their price target on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Mizuho cut their price objective on shares of Watsco from $350.00 to $325.00 and set a “neutral” rating for the company in a research report on Thursday, October 15th. Morgan Stanley reduced their price objective on Watsco from $370.00 to $330.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Zacks Research upgraded Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Watsco in a report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $373.62.

About Watsco

Watsco, Inc distributes air-conditioning, heating, and refrigeration equipment and related parts and supplies. Its products serve residential and light commercial applications, including systems used in homes and businesses, as well as components and supplies for contractors who install and maintain them.

The company sells products from a range of manufacturers through a network of distribution locations and digital platforms. Watsco serves customers in the United States, Canada, Mexico, and parts of Latin America and the Caribbean, supporting the installation, repair, and replacement of HVAC and refrigeration systems.

Founded in 1956, Watsco expanded into HVAC distribution in the late 1980s and has grown through acquisitions and partnerships.