Kestra Private Wealth Services LLC Invests $302,000 in Watsco, Inc. (NYSE:WSO)

Kestra Private Wealth Services LLC acquired a new position in shares of Watsco, Inc. (NYSE:WSO) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 705 shares of the construction company’s stock, valued at approximately $302,000.

Other large investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. boosted its stake in shares of Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares during the last quarter. Advisor OS LLC grew its position 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 buying an additional 28 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after acquiring an additional 28 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after acquiring an additional 30 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Up 0.2 %

Shares of NYSE WSO opened at $468.75 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $480.18. The stock has a market capitalization of $18.51 billion, a P/E ratio of 36.06 and a beta of 0.86. The company has a 50-day moving average price of $424.38 and a 200-day moving average price of $404.36.

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

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, April 12th. Watsco’s dividend payout ratio is presently 83.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the company 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 given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus 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.