Northbridge Financial Group LLC Acquires Shares of 2,033 Watsco, Inc. $WSO

Northbridge Financial Group LLC acquired a new stake in Watsco, Inc. (NYSE:WSO) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,033 shares of the construction company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Torren Management LLC purchased a new position in Watsco in the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Watsco during the fourth quarter worth about $37,000. TD Waterhouse Canada Inc. lifted its position in shares of Watsco by 151.4% during the third quarter. TD Waterhouse Canada Inc. now owns 181 shares of the construction company’s stock worth $73,000 after purchasing an additional 109 shares during the last quarter. Strategic Advocates LLC bought a new position in shares of Watsco during the third quarter worth about $74,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Watsco by 86.6% during the third quarter. Hantz Financial Services Inc. now owns 209 shares of the construction company’s stock worth $84,000 after purchasing an additional 97 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 1.4%

Shares of NYSE WSO opened at $386.15 on Wednesday. The firm’s 50-day moving average price is $399.64 and its two-hundred day moving average price is $380.87. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $494.94. The stock has a market capitalization of $15.70 billion, a P/E ratio of 32.05 and a beta of 1.12.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted $1.93 earnings per share. Watsco’s revenue was up .1% on a year-over-year basis. As a group, equities research analysts expect that Watsco, Inc. will post 12.7 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th were paid a $3.30 dividend. The ex-dividend date was Thursday, April 16th. This is an increase from Watsco’s previous quarterly dividend of $3.00. This represents a $13.20 annualized dividend and a dividend yield of 3.4%. Watsco’s dividend payout ratio (DPR) is 109.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WSO shares. Stephens increased their price target on shares of Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Mizuho set a $425.00 price target on shares of Watsco in a research report on Wednesday, February 18th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Watsco from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $399.83.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.