Watsco, Inc. (NYSE:WSO) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its position in Watsco, Inc. (NYSE:WSO - Free Report) by 119.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,152 shares of the construction company's stock after purchasing an additional 1,714 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Watsco were worth $1,550,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WSO. Tidal Investments LLC purchased a new stake in shares of Watsco during the 1st quarter valued at $214,000. Cetera Investment Advisers raised its stake in Watsco by 209.4% in the first quarter. Cetera Investment Advisers now owns 8,379 shares of the construction company's stock valued at $3,619,000 after buying an additional 5,671 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Watsco by 20.5% in the second quarter. QRG Capital Management Inc. now owns 1,018 shares of the construction company's stock worth $472,000 after acquiring an additional 173 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in shares of Watsco during the second quarter worth about $2,109,000. Finally, LVW Advisors LLC raised its position in shares of Watsco by 11.7% in the 2nd quarter. LVW Advisors LLC now owns 1,712 shares of the construction company's stock valued at $793,000 after purchasing an additional 179 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on WSO. Robert W. Baird dropped their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Watsco currently has an average rating of "Moderate Buy" and an average target price of $491.25.

Watsco Price Performance

WSO traded up $3.11 during trading on Friday, reaching $526.81. 167,656 shares of the company's stock were exchanged, compared to its average volume of 188,328. The company's fifty day simple moving average is $510.23 and its 200-day simple moving average is $489.89. The stock has a market capitalization of $21.27 billion, a P/E ratio of 40.71 and a beta of 0.92. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 earnings per share. Equities analysts forecast that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's dividend payout ratio is currently 83.46%.

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.