C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1 Million in Watsco, Inc. (NYSE:WSO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,117 shares of the construction company’s stock, valued at approximately $1,003,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J. W. Coons Advisors LLC lifted its stake in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after acquiring an additional 20 shares in the last quarter. My Legacy Advisors LLC lifted its position in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Watsco by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after purchasing an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC grew its position in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after purchasing an additional 22 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after buying an additional 24 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $511.11 on Thursday. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company has a market capitalization of $20.64 billion, a P/E ratio of 39.50 and a beta of 0.95. The company has a 50-day simple moving average of $484.90 and a 200 day simple moving average of $491.75.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (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 analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. As a group, equities analysts forecast that Watsco, Inc. will post 13.03 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. Watsco’s dividend payout ratio is currently 81.51%.

Analyst Ratings Changes

A number of research firms have recently commented on WSO. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Watsco currently has an average rating of “Hold” and an average target price of $495.00.

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.