Watsco, Inc. (NYSE:WSO) Shares Bought by Obermeyer Wealth Partners

Obermeyer Wealth Partners raised its position in shares of Watsco, Inc. (NYSE:WSO) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,450 shares of the construction company’s stock after buying an additional 73 shares during the period. Obermeyer Wealth Partners’ holdings in Watsco were worth $2,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Watsco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock valued at $1,714,586,000 after acquiring an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after purchasing an additional 118,713 shares during the period. Geode Capital Management LLC grew its holdings in shares of Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock valued at $343,168,000 after purchasing an additional 20,856 shares in the last quarter. Markel Group Inc. grew its holdings in shares of Watsco by 1.4% in the fourth quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock valued at $279,832,000 after purchasing an additional 8,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company’s stock worth $226,268,000 after buying an additional 13,409 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

NYSE:WSO opened at $484.20 on Tuesday. Watsco, Inc. has a 1 year low of $439.08 and a 1 year high of $571.42. The stock has a market cap of $19.56 billion, a P/E ratio of 36.54 and a beta of 1.11. The stock has a 50-day simple moving average of $491.82 and a 200-day simple moving average of $497.29.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business 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%. Watsco’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 EPS. On average, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is 92.24%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Friday. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird cut their target price on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $480.83.

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.