Tradition Wealth Management LLC Invests $175,000 in Watsco, Inc. (NYSE:WSO)

Tradition Wealth Management LLC purchased a new position in Watsco, Inc. (NYSE:WSO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 551 shares of the construction company's stock, valued at approximately $175,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of Watsco by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 136,642 shares of the construction company's stock valued at $43,474,000 after purchasing an additional 9,566 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in shares of Watsco in the first quarter valued at $202,000. Truist Financial Corp grew its position in shares of Watsco by 1.0% in the first quarter. Truist Financial Corp now owns 57,972 shares of the construction company's stock valued at $18,444,000 after purchasing an additional 600 shares during the period. BDO Wealth Advisors LLC purchased a new stake in shares of Watsco in the first quarter valued at $48,000. Finally, Avestar Capital LLC grew its position in shares of Watsco by 3.3% in the first quarter. Avestar Capital LLC now owns 1,426 shares of the construction company's stock valued at $454,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 89.49% of the company's stock.

Shares of NYSE WSO opened at $363.81 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 1.25. Watsco, Inc. has a 1-year low of $228.61 and a 1-year high of $383.83. The business has a 50-day moving average of $364.77 and a 200-day moving average of $338.15. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 4.49 and a beta of 0.94.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $4.42 EPS for the quarter, missing the consensus estimate of $4.87 by ($0.45). Watsco had a return on equity of 22.94% and a net margin of 8.06%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted $4.93 EPS. The company's revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Watsco, Inc. will post 14.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, July 14th. Watsco's dividend payout ratio (DPR) is 66.08%.

A number of equities research analysts have recently commented on WSO shares. StockNews.com started coverage on Watsco in a research report on Thursday, August 17th. They issued a "hold" rating for the company. Stephens reissued an "overweight" rating and set a $450.00 price target on shares of Watsco in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Watsco from $305.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday, August 2nd. Robert W. Baird boosted their price target on Watsco from $375.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, August 2nd. Finally, UBS Group boosted their price target on Watsco from $280.00 to $340.00 in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $364.00.

View Our Latest Report on WSO

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.

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