Integrated Wealth Concepts LLC Buys 165 Shares of Watsco, Inc. (NYSE:WSO)

Integrated Wealth Concepts LLC raised its stake in Watsco, Inc. (NYSE:WSOGet Rating) by 14.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,338 shares of the construction company’s stock after purchasing an additional 165 shares during the period. Integrated Wealth Concepts LLC’s holdings in Watsco were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Watsco in the first quarter valued at $32,000. O Dell Group LLC bought a new stake in shares of Watsco during the first quarter worth about $32,000. Heritage Financial Services LLC bought a new stake in shares of Watsco during the second quarter worth about $25,000. Sargent Bickham Lagudis LLC increased its position in shares of Watsco by 828.6% during the second quarter. Sargent Bickham Lagudis LLC now owns 130 shares of the construction company’s stock worth $31,000 after acquiring an additional 116 shares in the last quarter. Finally, Zullo Investment Group Inc. increased its position in shares of Watsco by 351.6% during the first quarter. Zullo Investment Group Inc. now owns 140 shares of the construction company’s stock worth $43,000 after acquiring an additional 109 shares in the last quarter. 82.38% of the stock is owned by institutional investors.

Watsco Stock Up 0.8 %

Watsco stock opened at $280.09 on Tuesday. Watsco, Inc. has a fifty-two week low of $220.68 and a fifty-two week high of $318.98. The stock has a market cap of $10.91 billion, a PE ratio of 20.18 and a beta of 0.89. The firm’s 50-day simple moving average is $265.04 and its 200 day simple moving average is $262.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 2.57.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, October 14th. Watsco’s payout ratio is 63.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Watsco from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Watsco from $284.00 to $294.00 in a research report on Monday, October 24th. StockNews.com began coverage on shares of Watsco in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Stephens cut their price target on shares of Watsco to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Morgan Stanley boosted their price target on shares of Watsco from $217.00 to $218.00 and gave the stock an “underweight” rating in a report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus price target of $297.00.

Watsco Company Profile

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

Further Reading

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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