Castlekeep Investment Advisors LLC bought a new position in Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,952 shares of the construction company's stock, valued at approximately $4,716,000. Watsco accounts for about 0.8% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its 29th biggest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco during the 4th quarter valued at $36,000. Atala Financial Inc purchased a new position in shares of Watsco during the 4th quarter valued at $49,000. Golden State Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter valued at $50,000. Finally, Tortoise Investment Management LLC increased its stake in Watsco by 76.2% in the 4th quarter. Tortoise Investment Management LLC now owns 148 shares of the construction company's stock worth $70,000 after buying an additional 64 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Robert W. Baird lowered their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Finally, Morgan Stanley began coverage on shares of Watsco in a report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $486.67.
Check Out Our Latest Report on WSO
Watsco Stock Performance
Shares of NYSE:WSO traded down $0.12 on Thursday, reaching $442.64. The company's stock had a trading volume of 208,581 shares, compared to its average volume of 255,672. The company has a 50-day simple moving average of $482.91 and a 200 day simple moving average of $495.28. Watsco, Inc. has a 52-week low of $435.72 and a 52-week high of $571.42. The company has a market cap of $17.93 billion, a P/E ratio of 33.46 and a beta of 1.11.
Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted $2.17 EPS. The firm's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.
Watsco Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.71%. Watsco's payout ratio is 92.24%.
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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