First Trust Direct Indexing L.P. Buys 646 Shares of Watsco, Inc. (NYSE:WSO)

First Trust Direct Indexing L.P. raised its stake in Watsco, Inc. (NYSE:WSO) by 90.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,364 shares of the construction company’s stock after buying an additional 646 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Watsco were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Hartford Financial Management Inc. lifted its position in Watsco by 53.1% during the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after purchasing an additional 26 shares during the period. Advisor OS LLC lifted its holdings in shares of Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock worth $1,017,000 after acquiring an additional 28 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC increased its stake in Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after acquiring an additional 28 shares during the last quarter. Finally, 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 last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 1.9 %

Shares of NYSE WSO opened at $464.55 on Monday. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $466.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. The company’s 50 day moving average price is $419.56 and its 200-day moving average price is $401.98. The company has a market capitalization of $18.35 billion, a P/E ratio of 35.73 and a beta of 0.86.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company posted $2.83 EPS. The business’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.32%. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Analyst Ratings Changes

A number of research firms have recently commented on WSO. Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird boosted their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $404.25.

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.