TrueMark Investments LLC Purchases 3,524 Shares of Watsco, Inc. (NYSE:WSO)

TrueMark Investments LLC increased its position in Watsco, Inc. (NYSE:WSO) by 206.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,231 shares of the construction company’s stock after purchasing an additional 3,524 shares during the period. TrueMark Investments LLC’s holdings in Watsco were worth $2,479,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of Watsco by 329.3% during the third quarter. Quest Partners LLC now owns 249 shares of the construction company’s stock worth $122,000 after purchasing an additional 191 shares during the period. Citigroup Inc. grew its position in shares of Watsco by 35.0% in the 3rd quarter. Citigroup Inc. now owns 16,219 shares of the construction company’s stock worth $7,978,000 after buying an additional 4,204 shares during the last quarter. Cerity Partners LLC grew its position in shares of Watsco by 90.0% in the 3rd quarter. Cerity Partners LLC now owns 10,632 shares of the construction company’s stock worth $5,230,000 after buying an additional 5,036 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Watsco by 12.5% in the third quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the construction company’s stock worth $1,328,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of Watsco stock opened at $517.72 on Wednesday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company has a 50-day moving average of $494.88 and a 200 day moving average of $497.64. The firm has a market cap of $20.92 billion, a price-to-earnings ratio of 39.07 and a beta of 0.92.

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. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 81.51%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WSO shares. Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Watsco has an average rating of “Hold” and a consensus price target of $486.25.

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.