Arkadios Wealth Advisors Has $317,000 Stock Position in Watsco, Inc. (NYSE:WSO)

Arkadios Wealth Advisors increased its position in shares of Watsco, Inc. (NYSE:WSO) by 19.5% in the third quarter, HoldingsChannel reports. The firm owned 644 shares of the construction company’s stock after purchasing an additional 105 shares during the period. Arkadios Wealth Advisors’ holdings in Watsco were worth $317,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC increased its position in 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 acquiring an additional 29 shares in the last quarter. Quarry LP acquired a new stake in Watsco in the 2nd quarter valued at about $26,000. ORG Partners LLC acquired a new stake in Watsco in the 1st quarter valued at about $31,000. Tortoise Investment Management LLC increased its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after acquiring an additional 32 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Watsco in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Stock Up 0.2 %

Shares of NYSE WSO opened at $474.27 on Thursday. The firm has a market capitalization of $19.11 billion, a PE ratio of 36.48 and a beta of 0.88. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1 year low of $344.82 and a 1 year high of $520.41. The firm’s 50-day moving average is $481.96 and its 200-day moving average is $474.99.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $4.35 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post 13.43 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s payout ratio is 83.08%.

Watsco Profile

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.