Elevated Capital Advisors LLC Has $47,000 Holdings in Watsco, Inc. $WSO

Elevated Capital Advisors LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 94.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129 shares of the construction company’s stock after selling 2,199 shares during the period. Elevated Capital Advisors LLC’s holdings in Watsco were worth $47,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WSO. CWM LLC boosted its position in Watsco by 3.8% during the fourth quarter. CWM LLC now owns 710 shares of the construction company’s stock worth $239,000 after purchasing an additional 26 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Watsco by 2.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,559 shares of the construction company’s stock worth $525,000 after buying an additional 30 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Watsco by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 7,814 shares of the construction company’s stock worth $2,633,000 after buying an additional 34 shares during the period. Modern Wealth Management LLC grew its stake in Watsco by 5.2% in the 2nd quarter. Modern Wealth Management LLC now owns 783 shares of the construction company’s stock valued at $346,000 after buying an additional 39 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Watsco by 7.1% in the 4th quarter. GAMMA Investing LLC now owns 695 shares of the construction company’s stock valued at $234,000 after buying an additional 46 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

NYSE:WSO traded up $6.53 during trading hours on Friday, reaching $384.26. 268,315 shares of the company were exchanged, compared to its average volume of 317,500. The business has a 50 day moving average of $393.55 and a 200 day moving average of $391.03. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $494.94. The company has a market capitalization of $15.62 billion, a P/E ratio of 31.89 and a beta of 1.02.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm earned $1.93 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Watsco, Inc. will post 12.66 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 16th will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, July 16th. Watsco’s dividend payout ratio is presently 109.54%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WSO shares. Morgan Stanley boosted their price objective on Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research note on Friday, June 26th. DA Davidson initiated coverage on Watsco in a report on Tuesday, June 16th. They issued a “neutral” rating and a $385.00 price objective on the stock. Stephens increased their price objective on Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $402.71.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.