Cerity Partners LLC Acquires 4,723 Shares of Watsco, Inc. (NYSE:WSO)

Cerity Partners LLC raised its holdings in Watsco, Inc. (NYSE:WSO) by 653.3% in the 4th quarter, HoldingsChannel reports. The fund owned 5,446 shares of the construction company’s stock after acquiring an additional 4,723 shares during the period. Cerity Partners LLC’s holdings in Watsco were worth $2,334,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WSO. American Century Companies Inc. raised its position in Watsco by 13.2% during the 1st quarter. American Century Companies Inc. now owns 2,280 shares of the construction company’s stock worth $695,000 after purchasing an additional 265 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in shares of Watsco during the first quarter worth about $229,000. Bank of Montreal Can lifted its stake in shares of Watsco by 2.8% in the first quarter. Bank of Montreal Can now owns 7,429 shares of the construction company’s stock worth $2,290,000 after acquiring an additional 201 shares during the period. APG Asset Management N.V. bought a new stake in Watsco in the first quarter valued at approximately $246,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Watsco by 9.1% in the first quarter. Great West Life Assurance Co. Can now owns 19,121 shares of the construction company’s stock valued at $5,997,000 after acquiring an additional 1,596 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $401.84 on Friday. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 29.42 and a beta of 0.90. Watsco, Inc. has a 52-week low of $314.87 and a 52-week high of $447.49. 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 stock’s 50 day moving average price is $408.99 and its two-hundred day moving average price is $398.05.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.44). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. On average, equities analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.69%. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price target on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. One research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $396.00.

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.