Watsco, Inc. (NYSE:WSO) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 9.4% during the fourth quarter, HoldingsChannel reports. The fund owned 9,623 shares of the construction company’s stock after acquiring an additional 830 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Watsco were worth $4,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. JPMorgan Chase & Co. boosted its holdings in Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after purchasing an additional 41,845 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Watsco in the fourth quarter valued at $10,446,000. Conestoga Capital Advisors LLC lifted its holdings in shares of Watsco by 1.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company’s stock valued at $46,362,000 after purchasing an additional 1,300 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Watsco by 8.5% during the 4th quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company’s stock valued at $319,000 after buying an additional 53 shares during the last quarter. Finally, Running Oak Capital LLC increased its position in Watsco by 4.1% during the 4th quarter. Running Oak Capital LLC now owns 28,659 shares of the construction company’s stock worth $13,581,000 after purchasing an additional 1,135 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

WSO opened at $454.98 on Monday. Watsco, Inc. has a 12-month low of $439.08 and a 12-month high of $571.42. The stock has a market capitalization of $18.43 billion, a PE ratio of 34.34 and a beta of 1.11. The firm’s fifty day moving average price is $485.90 and its 200 day moving average price is $496.42.

Watsco (NYSE:WSO) 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). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.17 EPS. On average, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a $3.00 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.64%. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WSO. UBS Group reduced their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the stock 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 report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.