RWA Wealth Partners LLC Takes $796,000 Position in Watsco, Inc. (NYSE:WSO)

RWA Wealth Partners LLC bought a new stake in Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,679 shares of the construction company's stock, valued at approximately $796,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Watsco during the 4th quarter worth approximately $118,312,000. Proficio Capital Partners LLC bought a new position in shares of Watsco in the fourth quarter valued at $63,603,000. Charles Schwab Investment Management Inc. increased its holdings in Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after buying an additional 118,713 shares during the last quarter. Benjamin Edwards Inc. raised its position in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock worth $52,880,000 after acquiring an additional 102,640 shares in the last quarter. Finally, State Street Corp lifted its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after acquiring an additional 65,846 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock traded down $14.74 during trading on Friday, reaching $477.78. 399,342 shares of the company's stock were exchanged, compared to its average volume of 253,380. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The firm's 50-day moving average price is $496.34 and its 200 day moving average price is $499.34. The company has a market cap of $19.30 billion, a P/E ratio of 36.06 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates 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 research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend 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 yield of 2.51%. Watsco's dividend payout ratio (DPR) is 81.51%.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Loop Capital upped their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Finally, Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a "market perform" rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Watsco presently has a consensus rating of "Hold" and a consensus target price of $486.25.

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.