Watsco, Inc. (NYSE:WSO) Shares Purchased by Continuum Advisory LLC

Continuum Advisory LLC grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 32.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 303 shares of the construction company’s stock after purchasing an additional 75 shares during the quarter. Continuum Advisory LLC’s holdings in Watsco were worth $154,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WSO. GAMMA Investing LLC increased its holdings in shares of Watsco by 89,376.0% during the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock valued at $242,867,000 after acquiring an additional 477,268 shares in the last quarter. Norges Bank acquired a new position in shares of Watsco during the fourth quarter valued at about $118,312,000. Lord Abbett & CO. LLC acquired a new position in shares of Watsco during the fourth quarter valued at about $104,533,000. Proficio Capital Partners LLC acquired a new position in shares of Watsco during the fourth quarter valued at about $63,603,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 9.5% during 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 acquiring an additional 118,713 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 0.4%

Shares of NYSE:WSO opened at $431.07 on Wednesday. Watsco, Inc. has a twelve month low of $419.91 and a twelve month high of $571.42. The company’s 50 day moving average is $458.82 and its 200 day moving average is $481.28. The company has a market cap of $17.46 billion, a PE ratio of 33.13 and a beta of 1.06.

Watsco (NYSE:WSO) last issued its quarterly 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). Watsco had a return on equity of 17.13% and a net margin of 6.98%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company posted $2.17 EPS. Watsco’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.78%. The ex-dividend date was Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is currently 92.24%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WSO. Morgan Stanley began coverage on shares of Watsco in a report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective on the stock. Robert W. Baird cut 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 upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $486.67.

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.