Congress Wealth Management LLC DE Acquires 73 Shares of Watsco, Inc. (NYSE:WSO)

Congress Wealth Management LLC DE boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 867 shares of the construction company’s stock after acquiring an additional 73 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Watsco were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. My Legacy Advisors LLC grew its stake in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares during the period. M&T Bank Corp raised its position in shares of Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after acquiring an additional 23 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after acquiring an additional 23 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of recent analyst reports. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Stock Down 2.6 %

Shares of WSO stock opened at $500.42 on Friday. The firm has a 50 day moving average of $496.12 and a 200-day moving average of $498.18. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 37.77 and a beta of 0.92. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

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.