Havemeyer Place LP bought a new position in shares of Watsco, Inc. (NYSE:WSO – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,434 shares of the construction company’s stock, valued at approximately $820,000.
A number of other institutional investors have also made changes to their positions in WSO. Torren Management LLC acquired a new position in shares of Watsco during the 4th quarter worth approximately $26,000. Laurel Wealth Advisors LLC bought a new stake in Watsco in the 4th quarter valued at $37,000. Clearstead Advisors LLC boosted its stake in Watsco by 45.0% in the 4th quarter. Clearstead Advisors LLC now owns 174 shares of the construction company’s stock valued at $59,000 after purchasing an additional 54 shares during the period. Strategic Advocates LLC bought a new stake in Watsco in the 3rd quarter valued at $74,000. Finally, Hantz Financial Services Inc. boosted its stake in Watsco by 86.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 209 shares of the construction company’s stock valued at $84,000 after purchasing an additional 97 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
WSO has been the subject of several recent research reports. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Mizuho set a $425.00 price target on Watsco in a research note on Wednesday, February 18th. JPMorgan Chase & Co. boosted their price target on Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Stephens boosted their price target on Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and a consensus target price of $399.83.
Watsco Price Performance
WSO opened at $371.81 on Tuesday. The business has a fifty day simple moving average of $399.17 and a 200 day simple moving average of $382.89. The company has a market capitalization of $15.12 billion, a PE ratio of 30.86 and a beta of 1.05. Watsco, Inc. has a 1 year low of $323.05 and a 1 year high of $494.94.
Watsco (NYSE:WSO – Get Free Report) last released its earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. Equities analysts anticipate that Watsco, Inc. will post 12.64 earnings per share for the current fiscal year.
Watsco Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, April 16th. This is a positive change from Watsco’s previous quarterly dividend of $3.00. Watsco’s dividend payout ratio is currently 109.54%.
Watsco Profile
Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.
Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.
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