Parcion Private Wealth LLC Buys Shares of 1,314 Watsco, Inc. (NYSE:WSO)

Parcion Private Wealth LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,314 shares of the construction company's stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also modified their holdings of WSO. EntryPoint Capital LLC boosted its position in Watsco by 100.0% during 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. Quarry LP purchased a new position in shares of Watsco in the second quarter valued at $26,000. ORG Partners LLC purchased a new position in Watsco in the first quarter valued at about $31,000. Tortoise Investment Management LLC grew its stake in Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock valued at $34,000 after purchasing an additional 32 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company's stock worth $38,000 after purchasing an additional 30 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of WSO stock traded down $2.36 on Friday, hitting $475.90. 141,261 shares of the stock traded hands, compared to its average volume of 290,810. The company has a market capitalization of $19.18 billion, a PE ratio of 36.61 and a beta of 0.88. The company's fifty day moving average is $482.01 and its 200 day moving average is $473.79. 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 $340.52 and a 1-year high of $520.41.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $4.35 earnings per share. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Watsco, Inc. will post 13.78 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is presently 83.08%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WSO. JPMorgan Chase & Co. raised their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday.

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.