Cerity Partners LLC Has $2.33 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Cerity Partners LLC increased its position in shares of Watsco, Inc. (NYSE:WSO) by 653.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,446 shares of the construction company’s stock after purchasing an additional 4,723 shares during the quarter. Cerity Partners LLC’s holdings in Watsco were worth $2,334,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WSO. Contravisory Investment Management Inc. bought a new position in shares of Watsco in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Watsco during the 4th quarter valued at $30,000. BKM Wealth Management LLC bought a new position in Watsco in the 4th quarter valued at $32,000. Acadian Asset Management LLC acquired a new position in Watsco in the first quarter worth $38,000. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Watsco during the fourth quarter worth $39,000. 89.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price target on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $396.00.

Watsco Stock Performance

Shares of NYSE:WSO opened at $401.84 on Friday. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1-year low of $314.87 and a 1-year high of $447.49. The stock has a market capitalization of $15.87 billion, a P/E ratio of 29.42 and a beta of 0.90. The business has a 50-day moving average price of $408.99 and a two-hundred day moving average price of $398.05.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm earned $2.35 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 79.06%.

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.