Crestwood Advisors Group LLC Grows Stake in Watsco, Inc. (NYSE:WSO)

Crestwood Advisors Group LLC raised its stake in Watsco, Inc. (NYSE:WSO) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 633 shares of the construction company’s stock after acquiring an additional 99 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Watsco were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. J. W. Coons Advisors LLC lifted its stake in shares of Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after buying an additional 20 shares in the last quarter. My Legacy Advisors LLC lifted its stake in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Watsco by 6.9% during the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after buying an additional 24 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on WSO shares. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $495.00.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.8 %

Watsco stock opened at $497.27 on Wednesday. The firm’s 50 day simple moving average is $484.36 and its 200 day simple moving average is $492.95. The firm has a market capitalization of $20.08 billion, a PE ratio of 37.53 and a beta of 0.95. Watsco, Inc. has a 1-year low of $380.58 and a 1-year high of $571.41.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for 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%. Research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. 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.