Aquatic Capital Management LLC Makes New $2.60 Million Investment in Watsco, Inc. (NYSE:WSO)

Aquatic Capital Management LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,487 shares of the construction company’s stock, valued at approximately $2,600,000.

Several other institutional investors have also modified their holdings of the business. My Legacy Advisors LLC lifted its holdings in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after purchasing an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC raised its position in Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares during the last quarter. M&T Bank Corp raised its position in Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after buying an additional 23 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after buying an additional 23 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 target price on the stock. Robert W. Baird dropped their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. StockNews.com lowered Watsco from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group dropped their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Loop Capital boosted their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $480.83.

Watsco Stock Down 0.0 %

NYSE:WSO opened at $455.93 on Tuesday. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 34.41 and a beta of 1.00. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42. The stock’s 50 day moving average price is $497.77 and its two-hundred day moving average price is $498.58.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. As a group, analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. 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. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.63%. Watsco’s payout ratio is presently 92.24%.

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.