Watsco, Inc. (NYSE:WSO) Stake Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in Watsco, Inc. (NYSE:WSO) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,852 shares of the construction company’s stock after buying an additional 2,433 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Watsco worth $9,871,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WSO. Hartford Financial Management Inc. raised its stake in shares of Watsco by 53.1% during the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after acquiring an additional 28 shares in the last quarter. Lincoln National Corp increased its stake in shares of Watsco by 4.0% during the fourth quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock valued at $312,000 after acquiring an additional 28 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Watsco by 44.1% during the fourth quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after acquiring an additional 30 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Up 0.3 %

Shares of NYSE WSO opened at $463.24 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $493.65. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 35.63 and a beta of 0.88. The business has a fifty day simple moving average of $468.92 and a 200-day simple moving average of $429.64.

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

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.33%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco’s payout ratio is presently 83.08%.

Insider Buying and Selling at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The sale was disclosed in a filing with the SEC, which is available at this link. In other Watsco news, EVP Barry S. Logan sold 774 shares of Watsco stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. Company insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research reports. Robert W. Baird increased their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $404.25.

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.