Allworth Financial LP Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Allworth Financial LP increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 44.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 98 shares of the construction company’s stock after purchasing an additional 30 shares during the period. Allworth Financial LP’s holdings in Watsco were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of Watsco during the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in Watsco during the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC purchased a new stake in Watsco during the fourth quarter valued at approximately $32,000. FNY Investment Advisers LLC purchased a new stake in Watsco during the third quarter valued at approximately $37,000. Finally, Raleigh Capital Management Inc. increased its holdings in Watsco by 35.0% during the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after buying an additional 28 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of NYSE:WSO opened at $417.71 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The firm has a fifty day moving average price of $408.34 and a 200 day moving average price of $397.37. Watsco, Inc. has a fifty-two week low of $309.17 and a fifty-two week high of $447.49. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 3.24 and a beta of 0.90.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $2.35 EPS. Watsco’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Watsco, Inc. will post 14.17 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $2.70 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.59%. Watsco’s dividend payout ratio is currently 71.74%.

Analyst Ratings Changes

Separately, Robert W. Baird upped their target price on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $396.00.

Watsco Company 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.