Watsco, Inc. (NYSE:WSO) Shares Purchased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,143 shares of the construction company’s stock after purchasing an additional 126 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Watsco were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WSO. My Legacy Advisors LLC increased its position in Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after buying an additional 21 shares during the period. Avidian Wealth Enterprises LLC increased its position in Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares during the period. Centennial Wealth Advisory LLC increased its position in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares during the period. M&T Bank Corp increased its position in 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 buying an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Watsco by 0.3% during 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 buying an additional 23 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Price Performance

Watsco stock opened at $492.29 on Friday. Watsco, Inc. has a 1-year low of $439.08 and a 1-year high of $571.42. The company has a market cap of $19.89 billion, a PE ratio of 37.15 and a beta of 1.11. The stock’s 50 day moving average price is $489.80 and its 200 day moving average price is $497.31.

Watsco (NYSE:WSO) last posted its quarterly earnings results 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). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.44%. 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 payout ratio is presently 92.24%.

Analyst Ratings Changes

Several research analysts have commented on WSO shares. Mizuho set a $490.00 price target on Watsco in a research report on Thursday, April 24th. StockNews.com raised Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Morgan Stanley initiated coverage on Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 target price on the stock. Finally, UBS Group dropped their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Seven 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 presently has a consensus rating of “Hold” and a consensus price target of $480.83.

About Watsco

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.