Williams Jones Wealth Management LLC. Boosts Stock Position in Watsco, Inc. (NYSE:WSO)

Williams Jones Wealth Management LLC. boosted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,435 shares of the construction company's stock after purchasing an additional 16,665 shares during the quarter. Williams Jones Wealth Management LLC. owned about 0.36% of Watsco worth $68,446,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. My Legacy Advisors LLC lifted its holdings in Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock worth $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in 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 acquiring an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its holdings in 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 acquiring an additional 22 shares during the period. M&T Bank Corp lifted its holdings in 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 acquiring an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in 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 acquiring an additional 23 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Down 0.2%

Shares of NYSE:WSO traded down $1.11 during midday trading on Friday, reaching $454.98. 252,686 shares of the company traded hands, compared to its average volume of 254,528. Watsco, Inc. has a 12 month low of $439.08 and a 12 month high of $571.42. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 34.34 and a beta of 1.11. The firm's fifty day moving average price is $485.90 and its two-hundred day moving average price is $496.61.

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 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.64%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WSO. Robert W. Baird dropped their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Morgan Stanley assumed coverage on Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price on the stock. UBS Group lowered their target price on Watsco from $475.00 to $455.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Mizuho set a $490.00 target price on Watsco 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $480.83.

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.