Sagespring Wealth Partners LLC Invests $292,000 in Watsco, Inc. (NYSE:WSO)

Sagespring Wealth Partners LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 616 shares of the construction company’s stock, valued at approximately $292,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco during the fourth quarter worth $36,000. Atala Financial Inc acquired a new stake in Watsco in the fourth quarter worth $49,000. Golden State Wealth Management LLC bought a new stake in Watsco in the fourth quarter valued at $50,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Watsco by 76.2% during the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock valued at $70,000 after purchasing an additional 64 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James started coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital lifted their price target 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. Finally, Morgan Stanley started coverage on shares of Watsco in a report on Monday. They set an “equal weight” rating and a $515.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $492.00.

Watsco Trading Down 2.5 %

Shares of Watsco stock opened at $497.84 on Thursday. The stock has a fifty day simple moving average of $499.21 and a 200 day simple moving average of $499.12. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The company has a market capitalization of $20.12 billion, a P/E ratio of 37.57 and a beta of 1.00.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. On average, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.41%. Watsco’s dividend payout ratio is currently 90.57%.

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.