Diversify Advisory Services LLC Makes New $822,000 Investment in Watsco, Inc. (NYSE:WSO)

Diversify Advisory Services LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSOFree Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,894 shares of the construction company’s stock, valued at approximately $822,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Watsco by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 44,737 shares of the construction company’s stock valued at $19,168,000 after purchasing an additional 1,650 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Watsco by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 255,062 shares of the construction company’s stock valued at $109,287,000 after purchasing an additional 28,047 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Watsco during the fourth quarter valued at $751,000. Benchmark Financial Wealth Advisors LLC bought a new position in shares of Watsco during the fourth quarter valued at $536,000. Finally, American National Bank lifted its holdings in shares of Watsco by 878.1% during the first quarter. American National Bank now owns 2,416 shares of the construction company’s stock valued at $1,044,000 after purchasing an additional 2,169 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of WSO opened at $481.34 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $473.61 and a two-hundred day simple moving average of $431.65. The stock has a market cap of $19.40 billion, a price-to-earnings ratio of 37.03 and a beta of 0.88. Watsco, Inc. has a 52 week low of $337.58 and a 52 week high of $493.65.

Watsco (NYSE:WSOGet Free Report) 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). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.83 EPS. On average, analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, July 16th. Watsco’s payout ratio is 83.08%.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the sale, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Barry S. Logan sold 774 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stephens reiterated an “overweight” rating and set a $500.00 price objective on shares of Watsco in a research report 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $404.25.

Read Our Latest Research Report on Watsco

Watsco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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