C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 2,117 Watsco, Inc. (NYSE:WSO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,117 shares of the construction company's stock, valued at approximately $1,003,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. FMR LLC raised its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after purchasing an additional 62,041 shares in the last quarter. State Street Corp raised its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Geode Capital Management LLC raised its position in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. raised its position in Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock valued at $286,520,000 after purchasing an additional 11,250 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Down 3.1 %

Shares of NYSE:WSO traded down $15.86 during trading on Friday, hitting $499.35. 141,226 shares of the company were exchanged, compared to its average volume of 244,026. The business's 50 day moving average is $484.99 and its 200-day moving average is $491.92. The company has a market capitalization of $20.16 billion, a P/E ratio of 37.70 and a beta of 0.95. Watsco, Inc. has a 1-year low of $380.58 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. As a group, sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. Watsco's dividend payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WSO shares. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird upped their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Watsco has an average rating of "Hold" and an average target price of $495.00.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.86% of the stock is currently owned by insiders.

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.