Certior Financial Group LLC Buys Shares of 933 Watsco, Inc. (NYSE:WSO)

Certior Financial Group LLC purchased a new position in Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 933 shares of the construction company’s stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSO. Rialto Wealth Management LLC purchased a new stake in Watsco during the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter valued at $36,000. Quarry LP raised its position in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the last quarter. Atala Financial Inc bought a new position in Watsco during the 4th quarter valued at about $49,000. Finally, Golden State Wealth Management LLC bought a new position in Watsco during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE WSO opened at $477.78 on Monday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The firm has a fifty day moving average price of $496.34 and a 200-day moving average price of $499.43. The stock has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. This is a boost from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Wall Street Analysts Forecast Growth

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

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.