Oppenheimer & Co. Inc. Acquires 754 Shares of Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,700 shares of the construction company’s stock after purchasing an additional 754 shares during the period. Oppenheimer & Co. Inc.’s holdings in Watsco were worth $4,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Shaker Investments LLC OH lifted its stake in shares of Watsco by 0.3% in the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock worth $3,267,000 after acquiring an additional 24 shares during the period. Mather Group LLC. raised its holdings in Watsco by 10.2% during the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock worth $127,000 after purchasing an additional 27 shares during the last quarter. EntryPoint Capital LLC lifted its position in shares of Watsco by 100.0% in 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. Salomon & Ludwin LLC boosted its stake in shares of Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares during the last quarter. Finally, Trueblood Wealth Management LLC increased 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 worth $1,556,000 after buying an additional 32 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Watsco has a consensus rating of “Hold” and a consensus target price of $433.71.

Watsco Stock Performance

Shares of WSO opened at $476.71 on Friday. Watsco, Inc. has a one year low of $338.58 and a one year high of $520.41. The company has a market cap of $19.23 billion, a PE ratio of 36.67 and a beta of 0.88. The stock has a 50-day moving average of $478.11 and a 200-day moving average of $458.21. 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 (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 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 firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the business posted $4.42 EPS. The company’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued 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 yield of 2.27%. Watsco’s payout ratio is 83.08%.

Watsco Company 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.