Alpha Omega Wealth Management LLC Acquires 204 Shares of Watsco, Inc. (NYSE:WSO)

Alpha Omega Wealth Management LLC increased its stake in Watsco, Inc. (NYSE:WSO) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,409 shares of the construction company’s stock after purchasing an additional 204 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Watsco were worth $1,733,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trinity Financial Advisors LLC lifted its holdings in shares of Watsco by 608.0% in the first quarter. Trinity Financial Advisors LLC now owns 3,200 shares of the construction company’s stock worth $1,627,000 after buying an additional 2,748 shares in the last quarter. Donaldson Capital Management LLC increased its holdings in Watsco by 6.3% during the 1st quarter. Donaldson Capital Management LLC now owns 1,491 shares of the construction company’s stock worth $758,000 after acquiring an additional 88 shares during the period. Trueblood Wealth Management LLC lifted its stake in Watsco by 5.6% in the 1st quarter. Trueblood Wealth Management LLC now owns 3,994 shares of the construction company’s stock worth $2,030,000 after purchasing an additional 211 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Watsco by 0.8% in the 1st quarter. Handelsbanken Fonder AB now owns 123,458 shares of the construction company’s stock valued at $62,754,000 after purchasing an additional 1,000 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Watsco by 133.1% during the 1st quarter. SG Americas Securities LLC now owns 844 shares of the construction company’s stock valued at $429,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 1.1%

Shares of Watsco stock opened at $449.43 on Wednesday. The business’s 50-day moving average price is $470.94 and its 200-day moving average price is $489.27. The firm has a market capitalization of $18.21 billion, a PE ratio of 33.92 and a beta of 1.06. Watsco, Inc. has a 12 month low of $430.20 and a 12 month high of $571.42.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio (DPR) is 92.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WSO. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. Morgan Stanley initiated coverage on Watsco in a research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price target for the company. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. Finally, UBS Group cut their price target on shares of Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $486.67.

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.