Xponance Inc. Increases Stock Position in Watsco, Inc. (NYSE:WSO)

Xponance Inc. boosted its position in Watsco, Inc. (NYSE:WSO) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,950 shares of the construction company’s stock after buying an additional 52 shares during the period. Xponance Inc.’s holdings in Watsco were worth $2,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. grew its position in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after buying an additional 26 shares during the last quarter. Advisor OS LLC grew its position in Watsco by 1.1% in the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after buying an additional 28 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after buying an additional 28 shares during the last quarter. Allworth Financial LP grew its position in Watsco by 44.1% in the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock valued at $42,000 after buying an additional 30 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Watsco by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 9,117 shares of the construction company’s stock valued at $3,444,000 after buying an additional 32 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $398.00.

Watsco Price Performance

Watsco stock opened at $406.76 on Tuesday. Watsco, Inc. has a one year low of $315.17 and a one year high of $447.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The business has a fifty day moving average of $408.54 and a two-hundred day moving average of $398.65. The company has a market cap of $16.07 billion, a P/E ratio of 29.78 and a beta of 0.89.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $2.35 EPS. Watsco’s revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is 79.06%.

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.