Watsco, Inc. (NYSE:WSO) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its holdings in Watsco, Inc. (NYSE:WSO) by 9.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,623 shares of the construction company’s stock after purchasing an additional 830 shares during the period. Great Valley Advisor Group Inc.’s holdings in Watsco were worth $4,560,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Watsco by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock worth $228,263,000 after acquiring an additional 41,845 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Watsco during the 4th quarter worth about $10,446,000. Conestoga Capital Advisors LLC increased its holdings in Watsco by 1.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company’s stock worth $46,362,000 after purchasing an additional 1,300 shares during the period. Bleakley Financial Group LLC raised its position in Watsco by 8.5% in the 4th quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company’s stock valued at $319,000 after purchasing an additional 53 shares in the last quarter. Finally, Running Oak Capital LLC boosted its stake in shares of Watsco by 4.1% in the 4th quarter. Running Oak Capital LLC now owns 28,659 shares of the construction company’s stock valued at $13,581,000 after buying an additional 1,135 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Watsco stock opened at $454.98 on Monday. The company has a market capitalization of $18.43 billion, a P/E ratio of 34.34 and a beta of 1.11. Watsco, Inc. has a fifty-two week low of $439.08 and a fifty-two week high of $571.42. The stock has a 50-day simple moving average of $485.90 and a 200-day simple moving average of $496.42.

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

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.64%. This is a boost 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 is presently 92.24%.

Analysts Set New Price Targets

WSO has been the topic of several analyst reports. Morgan Stanley began coverage on shares of Watsco in a report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 target price on the stock. Robert W. Baird reduced their price objective on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, UBS Group decreased their price target on Watsco from $475.00 to $455.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and an average 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.