Watsco, Inc. (NYSE:WSO) Shares Acquired by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lifted its stake in Watsco, Inc. (NYSE:WSO) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 898 shares of the construction company’s stock after purchasing an additional 86 shares during the period. Arete Wealth Advisors LLC’s holdings in Watsco were worth $427,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the 4th quarter valued at approximately $36,000. Quarry LP raised its holdings in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Atala Financial Inc purchased a new stake in Watsco during the fourth quarter worth $49,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WSO. Robert W. Baird boosted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $486.25.

Watsco Trading Down 3.0 %

NYSE:WSO opened at $477.78 on Friday. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 36.06 and a beta of 1.00. The company’s 50-day moving average is $496.34 and its two-hundred day moving average is $499.34.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. On average, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, April 15th. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio is currently 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.