Vestmark Advisory Solutions Inc. Purchases 273 Shares of Watsco, Inc. (NYSE:WSO)

Vestmark Advisory Solutions Inc. boosted its position in Watsco, Inc. (NYSE:WSO) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,630 shares of the construction company’s stock after buying an additional 273 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Watsco were worth $4,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WSO. Independent Advisor Alliance increased its position in Watsco by 38.3% in the 3rd quarter. Independent Advisor Alliance now owns 1,813 shares of the construction company’s stock valued at $685,000 after buying an additional 502 shares in the last quarter. Groesbeck Investment Management Corp NJ increased its position in Watsco by 11.9% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 2,265 shares of the construction company’s stock valued at $856,000 after buying an additional 240 shares in the last quarter. Vision Capital Management Inc. increased its position in Watsco by 0.3% in the 3rd quarter. Vision Capital Management Inc. now owns 19,511 shares of the construction company’s stock valued at $7,370,000 after buying an additional 52 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Watsco by 19.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,660 shares of the construction company’s stock worth $6,293,000 after purchasing an additional 2,718 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in Watsco by 9.4% during the 3rd quarter. Cambridge Trust Co. now owns 3,882 shares of the construction company’s stock worth $1,466,000 after purchasing an additional 334 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of NYSE WSO traded up $8.47 during midday trading on Friday, reaching $464.55. The company’s stock had a trading volume of 288,780 shares, compared to its average volume of 328,611. Watsco, Inc. has a 12-month low of $315.17 and a 12-month high of $466.56. The firm has a 50 day moving average price of $419.56 and a 200-day moving average price of $401.87. The stock has a market capitalization of $18.35 billion, a P/E ratio of 35.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $2.83 EPS. Watsco’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is presently 83.08%.

Analysts Set New Price Targets

WSO has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stephens reissued an “overweight” rating and set a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $404.25.

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.