Alpha Omega Wealth Management LLC Boosts Stake in Watsco, Inc. (NYSE:WSO)

Alpha Omega Wealth Management LLC increased its holdings in Watsco, Inc. (NYSE:WSO) by 6.4% in the 1st quarter, Holdings Channel reports. The fund owned 3,409 shares of the construction company’s stock after buying an additional 204 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Watsco were worth $1,733,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 41,845 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Watsco by 8.5% in the fourth quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company’s stock worth $319,000 after buying an additional 53 shares during the last quarter. Empowered Funds LLC grew its position in shares of Watsco by 13.2% during the 4th quarter. Empowered Funds LLC now owns 5,695 shares of the construction company’s stock valued at $2,699,000 after acquiring an additional 664 shares during the period. Jones Financial Companies Lllp grew its holdings in Watsco by 81.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company’s stock valued at $558,000 after purchasing an additional 527 shares during the period. Finally, Principal Securities Inc. increased its holdings in Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock worth $177,000 after acquiring an additional 24 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on WSO shares. Robert W. Baird decreased their price target on 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 upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Loop Capital increased their price target 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 research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $486.67.

Watsco Trading Up 1.1%

Shares of NYSE WSO opened at $449.43 on Wednesday. Watsco, Inc. has a 12-month low of $430.20 and a 12-month high of $571.42. The stock has a market capitalization of $18.21 billion, a PE ratio of 33.92 and a beta of 1.06. The stock’s fifty day simple moving average is $470.94 and its two-hundred day simple moving average is $489.27.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 EPS. On average, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.67%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is currently 92.24%.

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.