Icon Wealth Advisors LLC Purchases 334 Shares of Watsco, Inc. (NYSE:WSO)

Icon Wealth Advisors LLC increased its position in shares of Watsco, Inc. (NYSE:WSO) by 31.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,409 shares of the construction company’s stock after purchasing an additional 334 shares during the period. Icon Wealth Advisors LLC’s holdings in Watsco were worth $693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WSO. Citigroup Inc. boosted its stake in Watsco by 35.0% during the third quarter. Citigroup Inc. now owns 16,219 shares of the construction company’s stock worth $7,978,000 after buying an additional 4,204 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. King Luther Capital Management Corp boosted its position in shares of Watsco by 14.7% during the 3rd quarter. King Luther Capital Management Corp now owns 122,147 shares of the construction company’s stock valued at $60,081,000 after acquiring an additional 15,700 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after acquiring an additional 929 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Watsco by 10.8% in the third quarter. EverSource Wealth Advisors LLC now owns 4,109 shares of the construction company’s stock worth $2,021,000 after purchasing an additional 400 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Northcoast Research initiated coverage on Watsco in a research report on Friday. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $491.25.

Watsco Trading Up 1.6 %

NYSE WSO opened at $554.79 on Friday. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $555.42. The company has a 50 day moving average of $499.99 and a 200-day moving average of $485.16.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.35 earnings per share. On average, analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 1.95%. Watsco’s dividend payout ratio (DPR) is 83.46%.

Watsco 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.