Watsco, Inc. (NYSE:WSO) Stake Raised by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,707 shares of the construction company’s stock after purchasing an additional 137 shares during the period. Avidian Wealth Solutions LLC’s holdings in Watsco were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Benchmark Financial Wealth Advisors LLC acquired a new stake in shares of Watsco during the fourth quarter valued at approximately $536,000. Louisiana State Employees Retirement System acquired a new position in Watsco during the fourth quarter valued at $4,070,000. Mackenzie Financial Corp purchased a new stake in Watsco in the 4th quarter worth about $2,516,000. Wellington Management Group LLP boosted its position in Watsco by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after acquiring an additional 16,589 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in Watsco by 145.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,982 shares of the construction company’s stock valued at $1,278,000 after acquiring an additional 1,768 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 2.0 %

NYSE:WSO traded up $9.35 during trading hours on Monday, reaching $473.90. The company’s stock had a trading volume of 136,014 shares, compared to its average volume of 341,085. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 35.73 and a beta of 0.86. Watsco, Inc. has a one year low of $315.17 and a one year high of $474.74. The business’s 50-day moving average is $419.56 and its 200-day moving average is $402.22.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted $2.83 EPS. The business’s revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analyst Ratings Changes

WSO has been the subject of several research reports. Stephens restated an “overweight” rating and set a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird increased their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $404.25.

About Watsco

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.