Crestwood Advisors Group LLC Makes New $262,000 Investment in Watsco, Inc. (NYSE:WSO)

Crestwood Advisors Group LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 565 shares of the construction company’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in Watsco during the 1st quarter worth approximately $25,000. EntryPoint Capital LLC increased its position in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Watsco during the 4th quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in shares of Watsco in the 1st quarter worth approximately $31,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

WSO stock opened at $456.39 on Wednesday. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The stock’s 50 day moving average price is $480.18 and its 200 day moving average price is $454.45. The firm has a market cap of $18.39 billion, a P/E ratio of 35.11 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company posted $4.42 EPS. Watsco’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s payout ratio is currently 83.08%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WSO. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird upped their price target on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.71.

About Watsco

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.