RFG Advisory LLC Has $2.30 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

RFG Advisory LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,518 shares of the construction company's stock after buying an additional 625 shares during the period. RFG Advisory LLC's holdings in Watsco were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WSO. ST Germain D J Co. Inc. boosted its holdings in Watsco by 260.0% in the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company's stock valued at $37,000 after acquiring an additional 52 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Watsco by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the construction company's stock valued at $572,000 after acquiring an additional 1,125 shares during the last quarter. American National Bank & Trust lifted its holdings in Watsco by 4.5% in the first quarter. American National Bank & Trust now owns 2,487 shares of the construction company's stock worth $1,264,000 after acquiring an additional 107 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Watsco by 89,376.0% in the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock valued at $242,867,000 after purchasing an additional 477,268 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of Watsco by 4.2% during the fourth quarter. Centaurus Financial Inc. now owns 6,423 shares of the construction company's stock valued at $3,044,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Up 0.6%

Shares of NYSE:WSO traded up $2.76 during trading on Friday, reaching $445.13. 182,289 shares of the company traded hands, compared to its average volume of 257,342. The firm has a fifty day simple moving average of $474.65 and a 200 day simple moving average of $491.62. Watsco, Inc. has a 1-year low of $430.20 and a 1-year high of $571.42. The firm has a market cap of $18.03 billion, a P/E ratio of 33.59 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. As a group, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is 92.24%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WSO. Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. upped their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley initiated coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target on the stock. Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Finally, Robert W. Baird dropped their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $486.67.

About Watsco

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.