CIBC Private Wealth Group LLC Acquires 238 Shares of Watsco, Inc. (NYSE:WSO)

CIBC Private Wealth Group LLC raised its stake in Watsco, Inc. (NYSE:WSO) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,201 shares of the construction company’s stock after buying an additional 238 shares during the period. CIBC Private Wealth Group LLC’s holdings in Watsco were worth $5,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Watsco in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter worth $36,000. Quarry LP boosted its holdings in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Atala Financial Inc acquired a new stake in Watsco in the 4th quarter worth approximately $49,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WSO shares. Robert W. Baird lifted their target price on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Loop Capital increased their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Finally, Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus price target of $486.25.

Watsco Stock Up 0.6 %

Watsco stock opened at $511.19 on Wednesday. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 38.58 and a beta of 0.92. The company has a fifty day simple moving average of $496.49 and a 200-day simple moving average of $499.26.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.35%. Watsco’s dividend payout ratio is currently 81.51%.

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.