GAMMA Investing LLC Makes New $96,000 Investment in Watsco, Inc. (NYSE:WSO)

GAMMA Investing LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 246 shares of the construction company’s stock, valued at approximately $96,000.

A number of other large investors also recently modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Watsco during the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new position in Watsco during the 4th quarter valued at approximately $32,000. Finally, Hartford Financial Management Inc. grew its stake in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock worth $32,000 after buying an additional 26 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday. Stephens reaffirmed an “overweight” rating and set a $500.00 target price on shares of Watsco in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Watsco has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Trading Down 0.2 %

Shares of WSO opened at $443.21 on Monday. The business’s 50-day moving average price is $412.36 and its 200 day moving average price is $399.74. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.89. Watsco, Inc. has a 1-year low of $315.17 and a 1-year high of $451.29.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $2.83 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is presently 83.08%.

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.