Marks Group Wealth Management Inc Has $5.63 Million Position in Watsco, Inc. $WSO

Marks Group Wealth Management Inc lowered its stake in shares of Watsco, Inc. (NYSE:WSO – Free Report) by 9.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,720 shares of the construction company’s stock after selling 1,687 shares during the period. Marks Group Wealth Management Inc’s holdings in Watsco were worth $5,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC acquired a new stake in shares of Watsco during the 4th quarter valued at $44,000. Cerity Partners LLC raised its holdings in shares of Watsco by 10.4% during the 4th quarter. Cerity Partners LLC now owns 6,939 shares of the construction company’s stock valued at $2,338,000 after purchasing an additional 654 shares in the last quarter. Capital International Sarl raised its holdings in shares of Watsco by 60.3% during the 4th quarter. Capital International Sarl now owns 2,709 shares of the construction company’s stock valued at $913,000 after purchasing an additional 1,019 shares in the last quarter. Capital International Inc. CA raised its holdings in shares of Watsco by 219.8% during the 4th quarter. Capital International Inc. CA now owns 58,462 shares of the construction company’s stock valued at $19,699,000 after purchasing an additional 40,182 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Watsco by 103.1% during the 4th quarter. Capital International Investors now owns 4,642,893 shares of the construction company’s stock valued at $1,564,423,000 after purchasing an additional 2,356,998 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

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Watsco Trading Up 0.1%

Watsco stock opened at $371.81 on Tuesday. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $494.94. The firm’s fifty day simple moving average is $399.17 and its 200-day simple moving average is $382.89. The company has a market capitalization of $15.12 billion, a P/E ratio of 30.86 and a beta of 1.05.

Watsco (NYSE:WSO – Get Free Report) last posted its earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.14. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business posted $1.93 EPS. Watsco’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that Watsco, Inc. will post 12.64 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, April 16th. This is a boost from Watsco’s previous quarterly dividend of $3.00. Watsco’s dividend payout ratio (DPR) is 109.54%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Mizuho set a $425.00 price target on shares of Watsco in a report on Wednesday, February 18th. Stephens raised their price target on shares of Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $399.83.

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About Watsco

(Free Report)

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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