Sequoia Financial Advisors LLC Increases Stock Position in Watsco, Inc. (NYSE:WSO)

Sequoia Financial Advisors LLC lifted its holdings in Watsco, Inc. (NYSE:WSO) by 36.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 752 shares of the construction company’s stock after buying an additional 199 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Watsco were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WSO. Saturna Capital Corp lifted its holdings in shares of Watsco by 9.5% during the fourth quarter. Saturna Capital Corp now owns 3,263 shares of the construction company’s stock valued at $1,546,000 after purchasing an additional 284 shares during the last quarter. Markel Group Inc. raised its stake in Watsco by 1.4% during the fourth quarter. Markel Group Inc. now owns 590,500 shares of the construction company’s stock valued at $279,832,000 after buying an additional 8,000 shares during the last quarter. King Luther Capital Management Corp raised its stake in Watsco by 3.9% during the fourth quarter. King Luther Capital Management Corp now owns 126,875 shares of the construction company’s stock valued at $60,125,000 after buying an additional 4,728 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Watsco by 2.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 3,299 shares of the construction company’s stock worth $1,563,000 after acquiring an additional 82 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its stake in shares of Watsco by 76.2% in the fourth quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company’s stock worth $70,000 after acquiring an additional 64 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

NYSE WSO opened at $508.71 on Wednesday. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42. The stock has a 50-day moving average of $491.26 and a 200 day moving average of $495.86. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 38.39 and a beta of 0.92.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share 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 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 analysts predict 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. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.12%. Watsco’s dividend payout ratio is presently 81.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSO. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Loop Capital upped their target price 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. Finally, Robert W. Baird raised their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four 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, the company has a consensus rating of “Hold” and an average target price of $486.25.

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.