Parsons Capital Management Inc. RI Buys 183 Shares of Watsco, Inc. (NYSE:WSO)

Parsons Capital Management Inc. RI grew its stake in Watsco, Inc. (NYSE:WSOFree Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the construction company’s stock after acquiring an additional 183 shares during the period. Parsons Capital Management Inc. RI’s holdings in Watsco were worth $874,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in Watsco during the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in shares of Watsco during the fourth quarter valued at about $30,000. BKM Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter valued at about $32,000. FNY Investment Advisers LLC acquired a new stake in shares of Watsco in the 3rd quarter worth about $37,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Watsco in the 1st quarter worth about $38,000. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WSO shares. Robert W. Baird increased their target price on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Watsco from a “hold” rating to a “buy” rating and lifted their target price for the stock from $387.00 to $500.00 in a research report on Friday, December 8th. Finally, Stephens boosted their price target on shares of Watsco from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Watsco currently has an average rating of “Hold” and an average target price of $396.00.

View Our Latest Research Report on WSO

Watsco Price Performance

Shares of NYSE WSO opened at $427.28 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $402.00 and its 200 day simple moving average is $393.43. Watsco, Inc. has a fifty-two week low of $298.79 and a fifty-two week high of $441.29. The stock has a market cap of $16.88 billion, a P/E ratio of 31.28, a P/E/G ratio of 3.37 and a beta of 0.90.

Watsco (NYSE:WSOGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 earnings per share. Equities analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $2.70 dividend. The ex-dividend date is Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.53%. Watsco’s payout ratio is currently 71.74%.

Watsco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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