Koshinski Asset Management Inc. Takes $202,000 Position in Watsco, Inc. (NYSE:WSO)

Koshinski Asset Management Inc. bought a new position in Watsco, Inc. (NYSE:WSO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 411 shares of the construction company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WSO. Quarry LP purchased a new position in Watsco during the 2nd quarter valued at about $26,000. EntryPoint Capital LLC increased its stake in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the period. First PREMIER Bank bought a new position in shares of Watsco during the first quarter valued at approximately $25,000. ORG Partners LLC bought a new position in shares of Watsco during the first quarter valued at approximately $31,000. Finally, Tortoise Investment Management LLC lifted its stake in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 0.9 %

NYSE:WSO opened at $494.61 on Thursday. 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 firm’s 50-day moving average price is $480.15 and its 200-day moving average price is $471.32. The company has a market capitalization of $19.93 billion, a PE ratio of 38.05 and a beta of 0.88. Watsco, Inc. has a 1-year low of $338.58 and a 1-year high of $520.41.

Watsco (NYSE:WSO) last announced its 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 net margin of 7.02% and a return on equity of 18.55%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business posted $4.42 EPS. Watsco’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts predict that Watsco, Inc. will post 13.83 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WSO. Robert W. Baird upped their price objective on shares of Watsco from $522.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

About Watsco

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.