Watsco, Inc. (NYSE:WSO) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,766 shares of the construction company's stock after acquiring an additional 1,303 shares during the quarter. Watsco makes up 0.7% of Benjamin Edwards Inc.'s investment portfolio, making the stock its 27th biggest holding. Benjamin Edwards Inc. owned about 0.27% of Watsco worth $51,564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Watsco by 3.1% during the third quarter. Tidal Investments LLC now owns 2,269 shares of the construction company's stock worth $1,116,000 after purchasing an additional 69 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock valued at $25,645,000 after purchasing an additional 2,738 shares during the period. JPMorgan Chase & Co. grew its stake in Watsco by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after buying an additional 41,845 shares during the last quarter. GAMMA Investing LLC grew its stake in Watsco by 8.8% during the 4th quarter. GAMMA Investing LLC now owns 534 shares of the construction company's stock worth $253,000 after buying an additional 43 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Watsco in the fourth quarter valued at approximately $445,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Down 1.0 %

NYSE WSO traded down $4.66 during trading hours on Wednesday, hitting $470.25. 238,383 shares of the stock were exchanged, compared to its average volume of 253,869. The company has a market cap of $19.00 billion, a price-to-earnings ratio of 35.49 and a beta of 1.11. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42. The stock has a 50-day moving average of $493.68 and a 200 day moving average of $497.29.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results 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 return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same period last year, the company posted $2.17 earnings per share. The business's quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WSO. Morgan Stanley assumed coverage on shares of Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price on the stock. Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a "market perform" rating on the stock. Finally, StockNews.com cut Watsco from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $480.83.

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.