LPL Financial LLC Purchases 4,898 Shares of Watsco, Inc. (NYSE:WSO)

LPL Financial LLC boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,557 shares of the construction company's stock after purchasing an additional 4,898 shares during the quarter. LPL Financial LLC owned 0.07% of Watsco worth $13,059,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WSO. Rialto Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter worth approximately $36,000. Quarry LP lifted its stake in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company's stock valued at $44,000 after buying an additional 33 shares in the last quarter. Atala Financial Inc acquired a new position in shares of Watsco in the fourth quarter valued at approximately $49,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco during the fourth quarter worth $50,000. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WSO shares. Loop Capital upped their target price 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. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Finally, Robert W. Baird lifted their target price on Watsco from $540.00 to $560.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $486.25.

Watsco Price Performance

NYSE:WSO traded down $5.41 on Monday, hitting $472.63. 419,381 shares of the company's stock were exchanged, compared to its average volume of 254,046. The company has a market cap of $19.10 billion, a P/E ratio of 35.67 and a beta of 1.00. The firm has a 50-day moving average price of $496.01 and a 200-day moving average price of $499.24. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last released 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 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%. On average, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is presently 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.