Abacus FCF Advisors LLC Buys 1,860 Shares of Watsco, Inc. (NYSE:WSO)

Abacus FCF Advisors LLC increased its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 44.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,048 shares of the construction company's stock after buying an additional 1,860 shares during the period. Abacus FCF Advisors LLC's holdings in Watsco were worth $2,866,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WSO. Rialto Wealth Management LLC bought a new position in shares of Watsco in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the fourth quarter valued at approximately $36,000. Quarry LP grew 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 acquiring an additional 33 shares in the last quarter. Atala Financial Inc bought a new stake in Watsco during the 4th quarter worth approximately $49,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the 4th quarter worth approximately $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on WSO shares. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research report on Thursday, February 27th. Robert W. Baird raised their target price 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. Finally, Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $486.25.

Watsco Trading Up 2.1 %

Shares of WSO traded up $10.63 during midday trading on Friday, reaching $509.76. The stock had a trading volume of 214,485 shares, compared to its average volume of 254,205. The company has a market capitalization of $20.60 billion, a price-to-earnings ratio of 38.47 and a beta of 1.00. The company's 50-day moving average is $496.96 and its 200 day moving average is $498.91. Watsco, Inc. has a 12-month low of $396.82 and a 12-month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) 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 analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.35%. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco's dividend payout ratio is presently 90.57%.

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.