Prospera Financial Services Inc Has $10.68 Million Position in Watsco, Inc. $WSO

Prospera Financial Services Inc grew its stake in Watsco, Inc. (NYSE:WSO) by 2,549.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,186 shares of the construction company’s stock after buying an additional 23,273 shares during the period. Prospera Financial Services Inc owned 0.06% of Watsco worth $10,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Trust Co. of Vermont raised its holdings in Watsco by 10.2% during the 2nd quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock worth $105,000 after purchasing an additional 22 shares during the last quarter. Cary Street Partners Financial LLC raised its stake in Watsco by 2.2% during the first quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock worth $545,000 after buying an additional 23 shares during the last quarter. Freedom Investment Management Inc. lifted its holdings in Watsco by 4.8% in the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock valued at $256,000 after buying an additional 23 shares during the period. Valeo Financial Advisors LLC boosted its position in Watsco by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock valued at $537,000 after acquiring an additional 24 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in Watsco by 1.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 1,705 shares of the construction company’s stock worth $851,000 after acquiring an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WSO has been the topic of several research analyst reports. Mizuho cut their target price on Watsco from $525.00 to $400.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Zacks Research cut Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. William Blair reiterated a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Watsco has an average rating of “Hold” and an average target price of $435.00.

Watsco Stock Up 0.2%

WSO stock opened at $351.96 on Friday. The firm has a market capitalization of $14.27 billion, a PE ratio of 27.50 and a beta of 0.93. Watsco, Inc. has a twelve month low of $344.52 and a twelve month high of $571.41. The stock’s 50 day moving average is $382.83 and its 200-day moving average is $425.98.

Watsco (NYSE:WSO) last released its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The business had revenue of $2.07 billion during the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Thursday, October 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.4%. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

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.