Watsco, Inc. (NYSE:WSO) Shares Acquired by Level Four Advisory Services LLC

Level Four Advisory Services LLC grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,176 shares of the construction company’s stock after purchasing an additional 48 shares during the period. Level Four Advisory Services LLC’s holdings in Watsco were worth $2,453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in Watsco during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the fourth quarter valued at about $36,000. Quarry LP boosted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco during the 3rd quarter worth $48,000. Finally, Atala Financial Inc acquired a new stake in Watsco during the 4th quarter valued at approximately $49,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 2.6 %

Watsco stock opened at $500.42 on Friday. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The company has a market cap of $20.22 billion, a PE ratio of 37.77 and a beta of 0.92. The company’s 50-day moving average is $496.12 and its two-hundred day moving average is $498.18.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $486.25.

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.