Level Four Advisory Services LLC Boosts Position in Watsco, Inc. (NYSE:WSO)

Level Four Advisory Services LLC boosted its holdings in Watsco, Inc. (NYSE:WSO) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,176 shares of the construction company’s stock after acquiring an additional 48 shares during the quarter. Level Four Advisory Services LLC’s holdings in Watsco were worth $2,453,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WSO. Quest Partners LLC increased its stake in Watsco by 329.3% in the 3rd quarter. Quest Partners LLC now owns 249 shares of the construction company’s stock worth $122,000 after purchasing an additional 191 shares during the period. Citigroup Inc. increased its position in Watsco by 35.0% during the 3rd quarter. Citigroup Inc. now owns 16,219 shares of the construction company’s stock valued at $7,978,000 after buying an additional 4,204 shares in the last quarter. Cerity Partners LLC boosted its stake in Watsco by 90.0% in the 3rd quarter. Cerity Partners LLC now owns 10,632 shares of the construction company’s stock worth $5,230,000 after purchasing an additional 5,036 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Watsco by 12.5% during the third quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the construction company’s stock valued at $1,328,000 after acquiring an additional 300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Watsco by 2.8% in the third quarter. The Manufacturers Life Insurance Company now owns 22,759 shares of the construction company’s stock worth $11,195,000 after purchasing an additional 623 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

NYSE:WSO opened at $500.42 on Friday. Watsco, Inc. has a 1-year low of $396.82 and a 1-year high of $571.42. The company’s fifty day moving average price is $496.12 and its 200-day moving average price is $498.18. The firm has a market capitalization of $20.22 billion, a P/E ratio of 37.77 and a beta of 0.92.

Watsco (NYSE:WSO) last announced its quarterly earnings data 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. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analysts Set New Price Targets

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

About Watsco

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.