Buck Wealth Strategies LLC Invests $6.99 Million in Watsco, Inc. (NYSE:WSO)

Buck Wealth Strategies LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,086 shares of the construction company’s stock, valued at approximately $6,989,000. Watsco accounts for 2.1% of Buck Wealth Strategies LLC’s investment portfolio, making the stock its 26th largest position.

Other large investors have also recently modified their holdings of the company. Mather Group LLC. raised its holdings in shares of Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares in the last quarter. EntryPoint Capital LLC raised its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after buying an additional 29 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Watsco by 52.6% in the first quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock worth $1,556,000 after buying an additional 32 shares during the period. Finally, InterOcean Capital Group LLC boosted its position in Watsco by 5.9% during the 1st quarter. InterOcean Capital Group LLC now owns 570 shares of the construction company’s stock valued at $246,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.9 %

Shares of WSO stock opened at $495.98 on Friday. The stock’s fifty day moving average price is $478.15 and its 200 day moving average price is $465.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 38.15 and a beta of 0.88.

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

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WSO shares. Robert W. Baird boosted their price target on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $469.80.

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.