Watsco, Inc. (NYSE:WSO) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,739 shares of the construction company's stock after purchasing an additional 6,436 shares during the period. Raymond James & Associates owned 0.93% of Watsco worth $158,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its position in shares of Watsco by 5.3% during the third quarter. Asset Management One Co. Ltd. now owns 13,985 shares of the construction company's stock worth $5,282,000 after purchasing an additional 703 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Watsco during the third quarter worth approximately $377,000. Nixon Peabody Trust Co. acquired a new position in Watsco during the third quarter worth approximately $227,000. Dakota Wealth Management lifted its stake in Watsco by 10.1% in the third quarter. Dakota Wealth Management now owns 5,076 shares of the construction company's stock valued at $1,917,000 after buying an additional 465 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Watsco in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSO. Stephens reiterated an "overweight" rating and set a $500.00 price target on shares of Watsco in a research note on Thursday. Robert W. Baird raised their price target on Watsco from $420.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $404.25.

Watsco Stock Performance

Shares of Watsco stock traded up $4.43 on Monday, reaching $447.64. 219,700 shares of the stock were exchanged, compared to its average volume of 345,885. The firm has a market capitalization of $17.68 billion, a PE ratio of 34.43 and a beta of 0.89. Watsco, Inc. has a 1-year low of $315.17 and a 1-year high of $451.29. The business has a fifty day moving average price of $413.68 and a two-hundred day moving average price of $400.10. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts' consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business posted $2.83 EPS. Watsco's revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Watsco, Inc. will post 14.25 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $2.70 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.41%. Watsco's dividend payout ratio is 83.08%.

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.

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