Sequoia Financial Advisors LLC Raises Position in Watsco, Inc. (NYSE:WSO)

Sequoia Financial Advisors LLC lifted its position in Watsco, Inc. (NYSE:WSO) by 36.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 752 shares of the construction company’s stock after purchasing an additional 199 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Watsco were worth $356,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. My Legacy Advisors LLC boosted its stake in Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares during the period. Centennial Wealth Advisory LLC lifted its position in shares of Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after purchasing an additional 22 shares during the last quarter. M&T Bank Corp lifted its holdings in Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after buying an additional 23 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in shares of Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after acquiring an additional 24 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

WSO opened at $508.71 on Wednesday. The firm has a fifty day moving average price of $491.26 and a 200 day moving average price of $495.86. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42. The stock has a market cap of $20.55 billion, a P/E ratio of 38.39 and a beta of 0.92.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid 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 (DPR) is currently 81.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. 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, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $486.25.

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.