UNIVEST FINANCIAL Corp Grows Stake in Watsco, Inc. (NYSE:WSO)

UNIVEST FINANCIAL Corp increased its position in Watsco, Inc. (NYSE:WSO) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,928 shares of the construction company’s stock after acquiring an additional 26 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Watsco were worth $2,335,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WSO. Quest Partners LLC lifted its position in shares of Watsco by 329.3% in the third quarter. Quest Partners LLC now owns 249 shares of the construction company’s stock valued at $122,000 after acquiring an additional 191 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Watsco by 35.0% in the third quarter. Citigroup Inc. now owns 16,219 shares of the construction company’s stock valued at $7,978,000 after purchasing an additional 4,204 shares during the period. Cerity Partners LLC grew its position in shares of Watsco by 90.0% during the 3rd quarter. Cerity Partners LLC now owns 10,632 shares of the construction company’s stock worth $5,230,000 after buying an additional 5,036 shares in the last quarter. Larson Financial Group LLC increased its holdings in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Watsco by 12.5% during the third quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the construction company’s stock valued at $1,328,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WSO shares. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird increased their target price 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Stock Performance

Shares of WSO opened at $517.72 on Wednesday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company’s fifty day moving average is $494.88 and its two-hundred day moving average is $497.64. The stock has a market capitalization of $20.92 billion, a P/E ratio of 39.07 and a beta of 0.92.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.09%. Watsco’s dividend payout ratio is currently 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.