Independent Advisor Alliance Purchases Shares of 465 Watsco, Inc. (NYSE:WSO)

Independent Advisor Alliance acquired a new position in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 465 shares of the construction company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC bought a new stake in Watsco during the third quarter valued at about $212,000. CIBC Asset Management Inc raised its stake in Watsco by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company’s stock valued at $1,025,000 after purchasing an additional 87 shares during the period. Empowered Funds LLC raised its stake in Watsco by 4.2% during the 3rd quarter. Empowered Funds LLC now owns 5,031 shares of the construction company’s stock valued at $2,475,000 after purchasing an additional 201 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Watsco by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 39,894 shares of the construction company’s stock worth $19,623,000 after purchasing an additional 215 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Watsco by 2.7% in the 3rd quarter. Swiss National Bank now owns 103,144 shares of the construction company’s stock worth $50,734,000 after purchasing an additional 2,700 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Loop Capital boosted their price target 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 raised their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and an average price target of $486.25.

Watsco Stock Down 0.4 %

Watsco stock opened at $507.41 on Thursday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 38.30 and a beta of 0.92. The firm’s fifty day moving average is $492.08 and its 200 day moving average is $495.94.

Watsco (NYSE:WSO) last announced 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 for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently announced 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 2.13%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 81.51%.

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.