Magnolia Capital Advisors LLC Takes $3.01 Million Position in Watsco, Inc. (NYSE:WSO)

Magnolia Capital Advisors LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,487 shares of the construction company’s stock, valued at approximately $3,005,000.

Several other institutional investors also recently bought and sold shares of WSO. Mather Group LLC. increased 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 acquiring an additional 27 shares during the period. EntryPoint Capital LLC grew its stake in Watsco by 100.0% in the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the last quarter. Salomon & Ludwin LLC raised its holdings 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 purchasing an additional 30 shares in the last quarter. Trueblood Wealth Management LLC lifted its position in shares of Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after buying an additional 32 shares during the last quarter. Finally, InterOcean Capital Group LLC boosted its holdings in shares of Watsco by 5.9% in the 1st quarter. InterOcean Capital Group LLC now owns 570 shares of the construction company’s stock valued at $246,000 after buying an additional 32 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

NYSE WSO opened at $495.98 on Monday. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 38.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. The stock’s fifty day moving average price is $478.15 and its 200 day moving average price is $465.45. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $4.42 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Watsco, Inc. will post 13.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WSO shares. Robert W. Baird lifted their price target on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.