Watsco, Inc. (NYSE:WSO) Stock Position Lifted by Procyon Advisors LLC

Procyon Advisors LLC boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 7.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,186 shares of the construction company’s stock after purchasing an additional 232 shares during the period. Procyon Advisors LLC’s holdings in Watsco were worth $1,365,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WSO. Contravisory Investment Management Inc. bought a new stake in Watsco in the fourth quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in Watsco in the fourth quarter worth approximately $30,000. BKM Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter worth $32,000. FNY Investment Advisers LLC acquired a new stake in shares of Watsco in the third quarter worth $37,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Watsco in the first quarter worth $38,000. 89.71% of the stock is owned by institutional investors.

Watsco Price Performance

NYSE:WSO traded down $0.18 during mid-day trading on Thursday, reaching $434.10. 15,215 shares of the company were exchanged, compared to its average volume of 350,337. Watsco, Inc. has a 12 month low of $298.79 and a 12 month high of $441.29. The company has a fifty day moving average of $399.48 and a 200 day moving average of $390.86. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The stock has a market cap of $17.15 billion, a PE ratio of 31.79, a PEG ratio of 3.30 and a beta of 0.89.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company earned $2.35 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, research analysts anticipate that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th were given a $2.45 dividend. The ex-dividend date was Tuesday, January 16th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 2.26%. Watsco’s dividend payout ratio is 71.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WSO. Stephens boosted their price objective on shares of Watsco from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, December 11th. Robert W. Baird increased their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Watsco from a “hold” rating to a “buy” rating and increased their price objective for the company from $387.00 to $500.00 in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.