LPL Financial LLC Has $13.06 Million Stock Position in Watsco, Inc. (NYSE:WSO)

LPL Financial LLC grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,557 shares of the construction company’s stock after purchasing an additional 4,898 shares during the quarter. LPL Financial LLC owned about 0.07% of Watsco worth $13,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WSO. Rialto Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the fourth quarter worth $36,000. Quarry LP boosted its holdings in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the period. Atala Financial Inc acquired a new position in Watsco in the 4th quarter valued at $49,000. Finally, Golden State Wealth Management LLC bought a new position in Watsco in the 4th quarter worth $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 1.8 %

WSO stock opened at $520.95 on Thursday. The business’s 50-day simple moving average is $496.79 and its 200 day simple moving average is $499.41. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The company has a market cap of $21.05 billion, a PE ratio of 39.32 and a beta of 1.00.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s payout ratio is 81.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WSO. Robert W. Baird raised their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Loop Capital upped their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $486.25.

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.