Wealth Alliance Has $1.01 Million Position in Watsco, Inc. (NYSE:WSO)

Wealth Alliance lowered its position in Watsco, Inc. (NYSE:WSO) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,364 shares of the construction company’s stock after selling 64 shares during the period. Wealth Alliance’s holdings in Watsco were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hamilton Point Investment Advisors LLC boosted its position in Watsco by 0.8% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 13,400 shares of the construction company’s stock worth $5,742,000 after purchasing an additional 111 shares during the period. Flputnam Investment Management Co. bought a new stake in Watsco during the fourth quarter worth approximately $207,000. Mackenzie Financial Corp bought a new stake in Watsco during the fourth quarter worth approximately $2,516,000. Dakota Wealth Management boosted its position in Watsco by 43.8% during the fourth quarter. Dakota Wealth Management now owns 7,298 shares of the construction company’s stock worth $3,127,000 after purchasing an additional 2,222 shares during the period. Finally, Waldron Private Wealth LLC boosted its position in Watsco by 6.7% during the fourth quarter. Waldron Private Wealth LLC now owns 621 shares of the construction company’s stock worth $266,000 after purchasing an additional 39 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird upped their target price on Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $396.00.

Watsco Stock Up 0.2 %

WSO opened at $413.33 on Wednesday. Watsco, Inc. has a 1-year low of $310.20 and a 1-year high of $447.49. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 30.26 and a beta of 0.90. The business has a 50 day moving average of $409.11 and a 200-day moving average of $397.98.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $2.35 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Watsco, Inc. will post 14.17 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is 79.06%.

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.