Great Valley Advisor Group Inc. Acquires 1,768 Shares of Watsco, Inc. (NYSE:WSO)

Great Valley Advisor Group Inc. increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 145.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,982 shares of the construction company’s stock after purchasing an additional 1,768 shares during the period. Great Valley Advisor Group Inc.’s holdings in Watsco were worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WSO. Hartford Financial Management Inc. boosted its position in shares of Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after acquiring an additional 26 shares during the period. Advisor OS LLC raised its stake in Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 28 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings 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 purchasing an additional 28 shares during the period. Lindbrook Capital LLC grew its position in Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Watsco by 44.1% during the 4th quarter. Allworth Financial LP now owns 98 shares of the construction company’s stock worth $42,000 after purchasing an additional 30 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Watsco stock opened at $465.01 on Friday. The stock has a fifty day moving average price of $419.56 and a two-hundred day moving average price of $401.87. 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, Inc. has a 52-week low of $315.17 and a 52-week high of $466.56. The firm has a market capitalization of $18.37 billion, a P/E ratio of 35.77 and a beta of 0.86.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 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 analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.83 earnings per share. As a group, analysts anticipate that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

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

Wall Street Analysts Forecast Growth

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

About Watsco

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.