Benchmark Financial Wealth Advisors LLC Acquires Shares of 1,250 Watsco, Inc. (NYSE:WSO)

Benchmark Financial Wealth Advisors LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSOFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,250 shares of the construction company’s stock, valued at approximately $536,000.

Several other institutional investors have also modified their holdings of the stock. Advisor OS LLC raised 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. raised its holdings in 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 buying an additional 28 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Watsco by 2.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,302 shares of the construction company’s stock valued at $497,000 after buying an additional 31 shares during the period. Arizona State Retirement System raised its holdings in Watsco by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 9,117 shares of the construction company’s stock valued at $3,444,000 after buying an additional 32 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Watsco by 5.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 611 shares of the construction company’s stock valued at $262,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 1.6 %

Shares of WSO stock traded down $6.89 during trading hours on Tuesday, reaching $427.28. 244,216 shares of the stock were exchanged, compared to its average volume of 351,253. The business’s fifty day moving average is $401.40 and its two-hundred day moving average is $392.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47. Watsco, Inc. has a 12-month low of $298.79 and a 12-month high of $441.29. The firm has a market capitalization of $16.88 billion, a P/E ratio of 31.28, a P/E/G ratio of 3.35 and a beta of 0.89.

Watsco (NYSE:WSOGet Free Report) last released its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share 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 firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio is presently 71.74%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Watsco from a “hold” rating to a “buy” rating and boosted their price target for the stock from $387.00 to $500.00 in a research note on Friday, December 8th. Finally, Stephens boosted their price target 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. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $396.00.

Read Our Latest Analysis on WSO

About Watsco

(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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