HighPoint Advisor Group LLC Acquires New Position in Watsco, Inc. (NYSE:WSO)

HighPoint Advisor Group LLC purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 560 shares of the construction company's stock, valued at approximately $264,000.

Several other institutional investors also recently made changes to their positions in WSO. Verition Fund Management LLC boosted its position in Watsco by 195.2% during the 3rd quarter. Verition Fund Management LLC now owns 3,973 shares of the construction company's stock worth $1,954,000 after purchasing an additional 2,627 shares during the period. Holocene Advisors LP boosted its holdings in Watsco by 682.4% in the 3rd quarter. Holocene Advisors LP now owns 4,092 shares of the construction company's stock worth $2,013,000 after acquiring an additional 3,569 shares during the period. Hilltop Holdings Inc. raised its stake in shares of Watsco by 4.8% during the third quarter. Hilltop Holdings Inc. now owns 1,233 shares of the construction company's stock valued at $606,000 after purchasing an additional 56 shares during the period. HighTower Advisors LLC lifted its position in shares of Watsco by 3.5% during the third quarter. HighTower Advisors LLC now owns 16,029 shares of the construction company's stock worth $7,828,000 after purchasing an additional 546 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in Watsco by 57.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 1,101 shares of the construction company's stock valued at $542,000 after purchasing an additional 400 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Loop Capital increased 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. Finally, Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $486.25.

Watsco Price Performance

WSO stock traded up $17.94 on Tuesday, reaching $490.64. The company's stock had a trading volume of 57,534 shares, compared to its average volume of 268,352. The firm has a fifty day moving average of $496.01 and a two-hundred day moving average of $499.24. The company has a market capitalization of $19.82 billion, a P/E ratio of 36.94 and a beta of 1.00. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during 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%. As a group, equities analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, April 15th. This is a boost from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.45%. Watsco's dividend payout ratio (DPR) is 90.57%.

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.