EntryPoint Capital LLC Takes $322,000 Position in Watsco, Inc. (NYSE:WSO)

EntryPoint Capital LLC purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 680 shares of the construction company's stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. My Legacy Advisors LLC increased its position in shares of 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 period. Avidian Wealth Enterprises LLC increased its holdings in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after acquiring an additional 21 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock valued at $358,000 after purchasing an additional 22 shares during the period. M&T Bank Corp grew its position in shares of 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 purchasing an additional 23 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after buying an additional 23 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WSO. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Loop Capital raised 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. Finally, Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $486.25.

Watsco Stock Up 1.1 %

Shares of WSO traded up $5.35 during trading hours on Monday, reaching $507.23. 109,713 shares of the company traded hands, compared to its average volume of 252,035. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The company's fifty day moving average price is $496.12 and its two-hundred day moving average price is $498.74. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 38.24 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. On average, 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. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.13%. Watsco's payout ratio is currently 81.51%.

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.