Commonwealth Equity Services LLC Grows Holdings in Watsco, Inc. (NYSE:WSO)

Commonwealth Equity Services LLC increased its position in shares of Watsco, Inc. (NYSE:WSO) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,669 shares of the construction company’s stock after buying an additional 108 shares during the period. Commonwealth Equity Services LLC’s holdings in Watsco were worth $6,478,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth about $36,000. Quarry LP increased its position in shares of Watsco by 57.9% in the 3rd 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. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 1.3 %

Shares of NYSE:WSO opened at $495.89 on Friday. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The firm has a 50-day simple moving average of $493.43 and a 200 day simple moving average of $496.13. The company has a market cap of $20.04 billion, a PE ratio of 37.43 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 during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company 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. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WSO. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird boosted their target price 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. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.