Portside Wealth Group LLC Purchases 138 Shares of Watsco, Inc. (NYSE:WSO)

Portside Wealth Group LLC grew its position in shares of Watsco, Inc. (NYSE:WSO) by 4.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,044 shares of the construction company’s stock after buying an additional 138 shares during the quarter. Portside Wealth Group LLC’s holdings in Watsco were worth $1,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of WSO. Rialto Wealth Management LLC purchased a new position in Watsco in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the fourth quarter valued at approximately $36,000. ST Germain D J Co. Inc. lifted its stake in Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock valued at $37,000 after purchasing an additional 52 shares during the last quarter. Atala Financial Inc bought a new stake in Watsco during the 4th quarter valued at $49,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the 4th quarter valued at $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.6%

NYSE:WSO opened at $445.13 on Monday. The business’s 50-day moving average price is $473.33 and its two-hundred day moving average price is $490.32. The stock has a market cap of $18.03 billion, a P/E ratio of 33.59 and a beta of 1.06. Watsco, Inc. has a twelve month low of $430.20 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS 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 for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. 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 dividend yield of 2.70%. The ex-dividend date was Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is 92.24%.

Analyst Ratings Changes

WSO has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They set an “equal weight” rating and a $515.00 target price on the stock. Robert W. Baird lowered their target price 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. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Finally, UBS Group lowered their target price on shares of 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 stock. According to MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $486.67.

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.