Geneos Wealth Management Inc. Has $174,000 Stock Position in Watsco, Inc. (NYSE:WSO)

Geneos Wealth Management Inc. lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 407 shares of the construction company’s stock after selling 141 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Watsco were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in Watsco during the fourth quarter worth $26,000. Rise Advisors LLC bought a new stake in Watsco in the fourth quarter valued at about $30,000. BKM Wealth Management LLC acquired a new position in Watsco in the fourth quarter worth about $32,000. Allworth Financial LP lifted its stake in Watsco by 44.1% during the fourth quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after purchasing an additional 30 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Watsco during the third quarter valued at approximately $37,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of Watsco stock opened at $417.71 on Monday. Watsco, Inc. has a 1-year low of $309.17 and a 1-year high of $447.49. The firm’s 50-day moving average price is $408.34 and its two-hundred day moving average price is $397.50. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 30.58 and a beta of 0.89.

Watsco (NYSE:WSO) last released its quarterly 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 net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $2.35 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts predict that Watsco, Inc. will post 14.17 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s payout ratio is currently 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird increased their target price on Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.