HighPoint Advisor Group LLC Purchases Shares of 560 Watsco, Inc. (NYSE:WSO)

HighPoint Advisor Group LLC acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 560 shares of the construction company’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. My Legacy Advisors LLC boosted its position in Watsco by 3.2% during the 4th 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 raised its stake in shares of Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its holdings in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after purchasing an additional 22 shares during the period. M&T Bank Corp grew its position in Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after buying an additional 23 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Watsco by 0.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock valued at $3,645,000 after buying an additional 23 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WSO has been the topic of a number of recent analyst reports. Loop Capital boosted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Price Performance

NYSE WSO opened at $492.55 on Friday. The company has a market capitalization of $19.90 billion, a P/E ratio of 37.17 and a beta of 1.00. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The company’s 50 day simple moving average is $496.68 and its 200 day simple moving average is $499.36.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is presently 81.51%.

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.