Atomi Financial Group Inc. Makes New $219,000 Investment in Watsco, Inc. (NYSE:WSO)

Atomi Financial Group Inc. bought a new stake in Watsco, Inc. (NYSE:WSO) in the 2nd quarter, HoldingsChannel reports. The firm bought 473 shares of the construction company’s stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of the stock. First PREMIER Bank acquired a new stake in Watsco during the first quarter worth about $25,000. EntryPoint Capital LLC grew its stake in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Watsco during the 4th quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in shares of Watsco during the 1st quarter valued at approximately $31,000. Finally, Salomon & Ludwin LLC grew its position 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 acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on WSO shares. Robert W. Baird lifted their target price on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $433.71.

Watsco Stock Up 0.1 %

Shares of WSO opened at $472.51 on Thursday. The company’s 50-day simple moving average is $480.87 and its 200-day simple moving average is $451.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41. The stock has a market capitalization of $19.06 billion, a PE ratio of 36.35 and a beta of 0.88.

Watsco (NYSE:WSO) last released 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). The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $4.42 earnings per share. Analysts forecast that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.29%. Watsco’s dividend payout ratio is currently 83.08%.

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.