TrueMark Investments LLC Buys 3,524 Shares of Watsco, Inc. (NYSE:WSO)

TrueMark Investments LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 206.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,231 shares of the construction company’s stock after purchasing an additional 3,524 shares during the quarter. TrueMark Investments LLC’s holdings in Watsco were worth $2,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new position in Watsco during the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco during the fourth quarter valued at approximately $36,000. Quarry LP increased its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter worth approximately $48,000. Finally, Atala Financial Inc purchased a new stake in Watsco in the 4th quarter worth approximately $49,000. 89.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WSO has been the topic of several research analyst reports. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $486.25.

Watsco Trading Up 1.0 %

Shares of Watsco stock opened at $517.72 on Wednesday. The firm has a market capitalization of $20.92 billion, a PE ratio of 39.07 and a beta of 0.92. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The business’s 50-day moving average price is $494.88 and its 200-day moving average price is $497.64.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared 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 was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.09%. Watsco’s payout ratio is 81.51%.

Watsco 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.