SRS Capital Advisors Inc. Raises Holdings in Watsco, Inc. (NYSE:WSO)

SRS Capital Advisors Inc. boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 108.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256 shares of the construction company’s stock after buying an additional 133 shares during the period. SRS Capital Advisors Inc.’s holdings in Watsco were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the 4th quarter worth $36,000. Ashton Thomas Securities LLC bought a new position in Watsco in the third quarter worth about $43,000. Quarry LP raised its holdings in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter valued at about $48,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter valued at about $50,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $486.25.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Up 1.5 %

NYSE WSO opened at $501.81 on Thursday. Watsco, Inc. has a 12-month low of $388.47 and a 12-month high of $571.41. The company has a fifty day simple moving average of $485.38 and a two-hundred day simple moving average of $493.80. The stock has a market cap of $20.26 billion, a P/E ratio of 37.87 and a beta of 0.95.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.