Elevated Capital Advisors LLC Has $47,000 Stock Holdings in Watsco, Inc. $WSO

Elevated Capital Advisors LLC decreased its holdings in Watsco, Inc. (NYSE:WSO) by 94.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 129 shares of the construction company’s stock after selling 2,199 shares during the period. Elevated Capital Advisors LLC’s holdings in Watsco were worth $47,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in Watsco by 4.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 69,933 shares of the construction company’s stock valued at $25,441,000 after buying an additional 3,253 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in Watsco by 5.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 11,565 shares of the construction company’s stock worth $4,185,000 after acquiring an additional 576 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Watsco by 2.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 7,108 shares of the construction company’s stock worth $2,586,000 after acquiring an additional 193 shares during the last quarter. Unified Investment Management bought a new position in shares of Watsco in the first quarter worth about $477,000. Finally, Swedbank AB boosted its stake in shares of Watsco by 11.2% in the 1st quarter. Swedbank AB now owns 58,214 shares of the construction company’s stock valued at $21,178,000 after purchasing an additional 5,869 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a report on Friday, June 26th. Morgan Stanley boosted their price objective on Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a research report on Friday. Wall Street Zen upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Stephens lifted their price target on Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, DA Davidson began coverage on shares of Watsco in a report on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price target on the stock. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Watsco has an average rating of “Hold” and a consensus target price of $402.71.

Watsco Price Performance

NYSE WSO traded up $6.53 during mid-day trading on Friday, reaching $384.26. 268,315 shares of the stock were exchanged, compared to its average volume of 317,500. The stock has a market cap of $15.62 billion, a P/E ratio of 31.89 and a beta of 1.02. The stock has a 50 day simple moving average of $393.55 and a 200-day simple moving average of $391.03. Watsco, Inc. has a one year low of $323.05 and a one year high of $494.94.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, April 28th. The construction company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts anticipate that Watsco, Inc. will post 12.66 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 16th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $13.20 annualized dividend and a dividend yield of 3.4%. Watsco’s dividend payout ratio (DPR) is 109.54%.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.