Avantax Advisory Services Inc. Has $2.17 Million Position in Watsco, Inc. (NYSE:WSO)

Avantax Advisory Services Inc. raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,582 shares of the construction company’s stock after buying an additional 39 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Watsco were worth $2,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco in the 4th quarter valued at approximately $36,000. Quarry LP grew its position in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group acquired a new position in shares of Watsco in the 3rd quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Watsco in the 4th quarter valued at approximately $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 3.4 %

Shares of Watsco stock opened at $508.47 on Monday. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42. The stock has a market cap of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92. The business’s 50 day moving average is $489.58 and its 200-day moving average is $495.31.

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

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WSO shares. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Northcoast Research assumed coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $486.25.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.86% of the stock is owned by insiders.

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.