Intrust Bank NA Acquires 59 Shares of Watsco, Inc. (NYSE:WSO)

Intrust Bank NA grew its holdings in Watsco, Inc. (NYSE:WSO) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 803 shares of the construction company’s stock after purchasing an additional 59 shares during the quarter. Intrust Bank NA’s holdings in Watsco were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Asset Management One Co. Ltd. raised its position in shares of Watsco by 5.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 13,985 shares of the construction company’s stock worth $5,282,000 after acquiring an additional 703 shares in the last quarter. Dakota Wealth Management raised its holdings in Watsco by 10.1% in the third quarter. Dakota Wealth Management now owns 5,076 shares of the construction company’s stock worth $1,917,000 after purchasing an additional 465 shares in the last quarter. Raymond James & Associates lifted its position in shares of Watsco by 3.1% during the third quarter. Raymond James & Associates now owns 412,464 shares of the construction company’s stock valued at $155,796,000 after buying an additional 12,445 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in shares of Watsco in the 3rd quarter valued at about $215,000. Finally, Stratos Wealth Partners LTD. grew its position in shares of Watsco by 3.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,226 shares of the construction company’s stock worth $8,395,000 after buying an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.7 %

NYSE:WSO opened at $450.93 on Thursday. The company has a market capitalization of $17.81 billion, a P/E ratio of 34.69 and a beta of 0.86. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12 month low of $315.17 and a 12 month high of $455.62. The firm has a fifty day simple moving average of $415.08 and a 200-day simple moving average of $400.56.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $2.83 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a dividend of $2.70 per share. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.40%. Watsco’s payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WSO shares. Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $404.25.

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.