The Principal Financial Group Inc. has recently increased its stake in Watsco, Inc. by 1.1% during the fourth quarter of this year, according to its most recent filing with the United States Securities and Exchange Commission (SEC). The firm bought an additional 1,452 shares and now owns a total of 130,974 shares in the construction company’s stock. Their total worth had also increased to $32,665,000 as per the latest SEC filing.
Watsco is primarily involved in the distribution of air conditioning, heating and refrigeration equipment along with related parts and supplies. Their range of products includes various HVAC equipment for residential and commercial spaces such as furnaces and central air conditioning units.
As per available data, on Friday Watsco’s stock opened at $340.42 with a current ratio of 2.73 and a quick ratio of 1.03 indicating good liquidity position for the company. The average simple moving average for fifty days was observed to be at $320.45 whereas its two-hundred day simple moving average stood at $292.76. The firm’s twelve month low or bottom price was recorded at$220.68 while their highest recorded price during that same time span was noted down as $356.60 giving a market capitalization figure of approximately$13.26 billion.
Such financial filings made by renowned financial institutions like Principal Financial Group Inc certainly create buzz within the investment community encouraging further analysis into future prospects for Watsco’s stocks by potential investors looking for reliable data they can trust and use towards reliable predictions about future profitability trends within this ever-evolving industry sector.
In conclusion, it is safe to say that Watsco has managed to maintain steady growth while continuing to provide high-quality products and services fulfilling numerous customers’ needs within specialized markets spread across various geographical landscapes thanks largely due in part from direct investments made by organizations like Principal Financial Group inciting investor confidence for sustained longevity and prosperity.
Watsco, Inc. Reports Strong Q1 Earnings and Continues to Pay Dividends despite Mixed Ratings[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”WSO” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Watsco, Inc. is a company that specializes in the distribution of air conditioning, heating and refrigeration equipment, as well as related parts and supplies. The company is publicly traded on the New York Stock Exchange (NYSE:WSO). The firm recently announced its quarterly earnings results, reporting an impressive $2.83 earnings per share for Q1 2017, beating analysts’ consensus estimates by $0.58. The company’s current fiscal year projects to a predicted 14.5 earnings per share.
According to Bloomberg, the average rating for Watsco’s stock is currently labeled as “Hold,” with one equities research analyst indicating a sell rating while three have issued a hold rating and another three have given buy ratings to the stock. In recent times several hedge funds or other institutional investors like Utah Retirement Systems who now owns 5,853 shares of the construction company’s stock worth $1,507,000 after buying an additional 43 shares during the period also increased their stake in Watsco by buying more shares.
Despite mixed reviews from experts regarding its financial standing, Watsco continues to pay out dividends. Recently declared quarterly dividend payout amounts were issued to shareholders on April 28th, with those holding stocks prior to April 17th receiving $2.45 per share, representing an annualized basis payout ratio percentage of nearly sixty-four percent.
Watsco’s broad range of products includes residential central air conditioners and furnaces powered either by gas or electric systems; commercial air conditioning and heating equipment; specialized supplies like replacement compressors along with evaporator coils and motors; plus supply parts like insulation materials & ductwork that often complement or enhance HVAC system performance and efficiency.
In sum these results suggest that despite multiple highs-and-lows facing this construction-based industry conglomerate – both operationally & institutionally – there remains substantial growth potential heading into future quarters made so by sound collaborations with institutional investors and its wide range of products for commercial, residential and specialized clients.