EverSource Wealth Advisors LLC Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

EverSource Wealth Advisors LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the construction company’s stock after purchasing an additional 391 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Watsco were worth $2,132,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Watsco during the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the fourth quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new stake in Watsco during the third quarter valued at $43,000. Quarry LP raised its stake in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Watsco during the third quarter valued at $48,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

WSO has been the topic of a number of recent research reports. Robert W. Baird upped their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Trading Down 0.1 %

NYSE WSO opened at $504.82 on Thursday. The company’s 50-day moving average price is $488.48 and its 200-day moving average price is $494.83. The stock has a market cap of $20.39 billion, a PE ratio of 38.10 and a beta of 0.92. Watsco, Inc. has a 12 month low of $393.88 and a 12 month high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 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 analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is presently 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.