Stratos Wealth Partners LTD. Purchases 885 Shares of Watsco, Inc. (NYSE:WSO)

Stratos Wealth Partners LTD. increased its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,004 shares of the construction company's stock after acquiring an additional 885 shares during the period. Stratos Wealth Partners LTD. owned about 0.06% of Watsco worth $12,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Watsco during the 1st quarter worth approximately $25,000. Manitou Investment Management Ltd. acquired a new stake in Watsco in the first quarter valued at approximately $25,000. City Holding Co. acquired a new stake in Watsco in the first quarter valued at approximately $29,000. Rossby Financial LCC acquired a new stake in Watsco in the first quarter valued at approximately $33,000. Finally, Rialto Wealth Management LLC acquired a new stake in Watsco in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WSO. Morgan Stanley set a $505.00 target price on shares of Watsco in a research report on Wednesday, July 2nd. Robert W. Baird cut 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. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group cut their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 25th. Finally, Mizuho set a $490.00 target price on shares of Watsco 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $484.17.

Watsco Stock Up 0.3%

Shares of WSO stock traded up $1.54 during trading hours on Tuesday, hitting $459.54. 270,208 shares of the company's stock traded hands, compared to its average volume of 259,955. The stock's 50 day simple moving average is $452.73 and its 200 day simple moving average is $477.44. The stock has a market cap of $18.62 billion, a PE ratio of 35.32 and a beta of 1.04. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. Watsco's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.17 EPS. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, July 16th. Watsco's dividend payout ratio is presently 92.24%.

Watsco Company 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.