458 Shares in Watsco, Inc. (NYSE:WSO) Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC acquired a new position in Watsco, Inc. (NYSE:WSO) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 458 shares of the construction company’s stock, valued at approximately $233,000.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Watsco in the 1st quarter worth about $25,000. Manitou Investment Management Ltd. purchased a new stake in Watsco in the 1st quarter worth about $25,000. City Holding Co. purchased a new stake in Watsco in the 1st quarter worth about $29,000. Rialto Wealth Management LLC purchased a new stake in Watsco in the 4th quarter worth about $31,000. Finally, ST Germain D J Co. Inc. lifted its stake in Watsco by 260.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock worth $37,000 after acquiring an additional 52 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE WSO opened at $435.58 on Friday. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of 33.48 and a beta of 1.06. The business’s 50-day simple moving average is $454.41 and its 200-day simple moving average is $479.70. Watsco, Inc. has a 52 week low of $418.31 and a 52 week high of $571.42.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates 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 6.98% and a return on equity of 17.13%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.17 EPS. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current 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 issued a dividend of $3.00 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.75%. Watsco’s dividend payout ratio is currently 92.24%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WSO shares. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Robert W. Baird dropped their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. UBS Group dropped their target price on Watsco from $455.00 to $450.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $485.83.

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.