Procyon Advisors LLC Buys 232 Shares of Watsco, Inc. (NYSE:WSO)

Procyon Advisors LLC boosted its stake in Watsco, Inc. (NYSE:WSO) by 7.9% in the fourth quarter, HoldingsChannel reports. The firm owned 3,186 shares of the construction company’s stock after acquiring an additional 232 shares during the period. Procyon Advisors LLC’s holdings in Watsco were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Contravisory Investment Management Inc. bought a new stake in shares of Watsco during the 4th quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of Watsco during the 4th quarter valued at $30,000. BKM Wealth Management LLC bought a new stake in shares of Watsco during the 4th quarter valued at $32,000. FNY Investment Advisers LLC bought a new stake in shares of Watsco during the 3rd quarter valued at $37,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Watsco during the 1st quarter valued at $38,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

WSO stock traded down $0.18 during mid-day trading on Thursday, hitting $434.10. The company had a trading volume of 15,215 shares, compared to its average volume of 350,337. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 3.30 and a beta of 0.89. Watsco, Inc. has a 12-month low of $298.79 and a 12-month high of $441.29. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $399.48 and a 200 day moving average price of $390.86.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.44). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 EPS. On average, research analysts anticipate that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th were paid a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, January 16th. Watsco’s payout ratio is currently 71.74%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WSO shares. Deutsche Bank Aktiengesellschaft raised shares of Watsco from a “hold” rating to a “buy” rating and boosted their price objective for the company from $387.00 to $500.00 in a research report on Friday, December 8th. Robert W. Baird upped their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Finally, Stephens upped their target price on shares of Watsco from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus price target of $396.00.

Watsco Company 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.