Watsco, Inc. (NYSE:WSO) Shares Purchased by RFG Advisory LLC

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its stake in shares of Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock worth $358,000 after purchasing an additional 22 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock worth $799,000 after purchasing an additional 23 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Watsco by 0.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after purchasing an additional 23 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Watsco by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company's stock worth $924,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Mizuho set a $490.00 price target on Watsco in a research note on Thursday, April 24th. UBS Group cut their price target on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird cut their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $486.67.

Watsco Stock Performance

Shares of NYSE:WSO traded up $2.76 during trading on Friday, hitting $445.13. The company's stock had a trading volume of 182,289 shares, compared to its average volume of 257,080. Watsco, Inc. has a fifty-two week low of $430.20 and a fifty-two week high of $571.42. The stock's 50-day moving average price is $473.33 and its two-hundred day moving average price is $490.32. The company has a market capitalization of $18.03 billion, a PE ratio of 33.59 and a beta of 1.06.

Watsco (NYSE:WSO - Get Free Report) 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 return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $2.17 EPS. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

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

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.