OneDigital Investment Advisors LLC Takes $266,000 Position in Watsco, Inc. (NYSE:WSO)

OneDigital Investment Advisors LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 523 shares of the construction company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WSO. Vanguard Group Inc. increased its stake in shares of Watsco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company’s stock worth $1,714,586,000 after buying an additional 52,127 shares during the period. Geode Capital Management LLC grew its holdings in Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company’s stock worth $343,168,000 after acquiring an additional 20,856 shares in the last quarter. GAMMA Investing LLC grew its holdings in Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock worth $242,867,000 after acquiring an additional 477,268 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company’s stock worth $226,268,000 after acquiring an additional 13,409 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Watsco by 25.5% during the 4th quarter. Northern Trust Corp now owns 333,348 shares of the construction company’s stock worth $157,970,000 after acquiring an additional 67,649 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on WSO shares. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Robert W. Baird reduced their price objective on shares of Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. Finally, Mizuho set a $490.00 price objective on shares of Watsco in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $484.17.

Watsco Price Performance

WSO stock opened at $471.33 on Friday. The company has a fifty day moving average price of $453.34 and a 200 day moving average price of $476.97. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.42. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 36.23 and a beta of 1.04.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company earned $2.17 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.55%. Watsco’s payout ratio is currently 92.24%.

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.