RWA Wealth Partners LLC Acquires Shares of 1,679 Watsco, Inc. (NYSE:WSO)

RWA Wealth Partners LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,679 shares of the construction company’s stock, valued at approximately $796,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Watsco during the fourth quarter worth $118,312,000. Proficio Capital Partners LLC bought a new stake in shares of Watsco during the 4th quarter worth about $63,603,000. Charles Schwab Investment Management Inc. grew its stake in Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after buying an additional 118,713 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares during the period. Finally, State Street Corp lifted its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after acquiring an additional 65,846 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

WSO opened at $509.53 on Tuesday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The firm has a market cap of $20.59 billion, a P/E ratio of 38.45 and a beta of 0.92. The business’s fifty day moving average is $496.37 and its 200-day moving average is $499.01.

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. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

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. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.12%. Watsco’s dividend payout ratio is currently 81.51%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WSO. Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Watsco has a consensus rating of “Hold” and an average price target 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.