Parcion Private Wealth LLC Makes New Investment in Watsco, Inc. (NYSE:WSO)

Parcion Private Wealth LLC acquired a new stake in Watsco, Inc. (NYSE:WSO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,314 shares of the construction company’s stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its position in Watsco by 5.5% during the third quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the construction company’s stock worth $4,722,000 after purchasing an additional 500 shares during the period. Trueblood Wealth Management LLC raised its stake in Watsco by 1.0% in the third quarter. Trueblood Wealth Management LLC now owns 3,680 shares of the construction company’s stock valued at $1,810,000 after purchasing an additional 38 shares in the last quarter. IFM Investors Pty Ltd raised its position in Watsco by 1.7% during the third quarter. IFM Investors Pty Ltd now owns 7,356 shares of the construction company’s stock valued at $3,618,000 after purchasing an additional 123 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in Watsco during the third quarter worth $397,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after purchasing an additional 233,167 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday.

Watsco Trading Down 0.5 %

Shares of Watsco stock opened at $475.90 on Friday. The firm has a market cap of $19.18 billion, a PE ratio of 36.61 and a beta of 0.88. Watsco, Inc. has a 1 year low of $340.52 and a 1 year high of $520.41. 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 has a fifty day moving average price of $482.01 and a 200-day moving average price of $473.54.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.35 EPS. Equities research analysts anticipate that Watsco, Inc. will post 13.78 EPS for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, October 16th. 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.