Focus Partners Wealth Acquires 2,502 Shares of Watsco, Inc. (NYSE:WSO)

Focus Partners Wealth raised its holdings in Watsco, Inc. (NYSE:WSO) by 48.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,714 shares of the construction company’s stock after acquiring an additional 2,502 shares during the quarter. Focus Partners Wealth’s holdings in Watsco were worth $3,707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. My Legacy Advisors LLC grew its position in Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in 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 acquiring an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after acquiring an additional 22 shares during the last quarter. M&T Bank Corp grew its position in Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after acquiring an additional 23 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after acquiring an additional 23 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE WSO opened at $478.93 on Friday. The stock has a market capitalization of $19.35 billion, a P/E ratio of 36.15 and a beta of 1.11. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42. The business has a fifty day moving average price of $490.08 and a 200 day moving average price of $497.02.

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

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.51%. Watsco’s dividend payout ratio (DPR) is 92.24%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WSO. StockNews.com upgraded Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Morgan Stanley began coverage on Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 target price for the company. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Finally, Robert W. Baird lowered their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $480.83.

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.