Trueblood Wealth Management LLC Has $1.69 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Trueblood Wealth Management LLC raised its position in Watsco, Inc. (NYSE:WSO) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,642 shares of the construction company’s stock after acquiring an additional 39 shares during the period. Watsco comprises approximately 1.0% of Trueblood Wealth Management LLC’s holdings, making the stock its 21st largest holding. Trueblood Wealth Management LLC’s holdings in Watsco were worth $1,687,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter worth approximately $245,000. Principal Securities Inc. bought a new stake in shares of Watsco in the 4th quarter worth about $152,000. BNP Paribas Financial Markets increased its position in shares of Watsco by 36.3% during the 4th quarter. BNP Paribas Financial Markets now owns 11,206 shares of the construction company’s stock worth $4,801,000 after purchasing an additional 2,986 shares in the last quarter. Jump Financial LLC bought a new position in Watsco during the 4th quarter valued at about $1,715,000. Finally, QRG Capital Management Inc. boosted its position in Watsco by 32.5% in the fourth quarter. QRG Capital Management Inc. now owns 962 shares of the construction company’s stock valued at $412,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Watsco Stock Up 1.4 %

NYSE:WSO opened at $461.59 on Thursday. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 35.51 and a beta of 0.88. The stock has a 50-day moving average price of $478.39 and a two-hundred day moving average price of $456.99. Watsco, Inc. has a 1 year low of $338.58 and a 1 year high of $520.41.

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 net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the business earned $4.42 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were given a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.34%. 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.