Watsco, Inc. (NYSE:WSO) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 3.1% in the second quarter, Holdings Channel.com reports. The fund owned 106,447 shares of the construction company’s stock after buying an additional 3,236 shares during the quarter. King Luther Capital Management Corp’s holdings in Watsco were worth $49,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First PREMIER Bank acquired a new stake in shares of Watsco during the 1st quarter valued at $25,000. EntryPoint Capital LLC lifted its position in shares of Watsco by 100.0% during 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 during the last quarter. ORG Partners LLC acquired a new stake in shares of Watsco during the 1st quarter valued at $31,000. Tortoise Investment Management LLC lifted its position in shares of 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 acquiring an additional 32 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of Watsco by 52.6% during the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE:WSO opened at $500.25 on Friday. The company’s fifty day moving average is $478.53 and its two-hundred day moving average is $460.18. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $338.58 and a 12-month high of $520.41. The company has a market cap of $20.18 billion, a P/E ratio of 38.48 and a beta of 0.88.

Watsco (NYSE:WSO) last posted its quarterly earnings results 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 return on equity of 18.55% and a net margin of 7.02%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company posted $4.42 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective on Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $447.67.

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.