Lindbrook Capital LLC Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Lindbrook Capital LLC raised its position in shares of Watsco, Inc. (NYSE:WSO) by 53.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80 shares of the construction company’s stock after purchasing an additional 28 shares during the period. Lindbrook Capital LLC’s holdings in Watsco were worth $34,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Watsco by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,655,946 shares of the construction company’s stock worth $625,484,000 after buying an additional 7,723 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Watsco by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,310,201 shares of the construction company’s stock worth $476,973,000 after buying an additional 9,201 shares during the period. Blair William & Co. IL increased its holdings in shares of Watsco by 0.7% in the third quarter. Blair William & Co. IL now owns 770,476 shares of the construction company’s stock worth $291,024,000 after buying an additional 4,997 shares during the period. Wellington Management Group LLP increased its holdings in shares of Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after buying an additional 16,589 shares during the period. Finally, Markel Group Inc. increased its holdings in shares of Watsco by 1.2% in the third quarter. Markel Group Inc. now owns 545,750 shares of the construction company’s stock worth $206,141,000 after buying an additional 6,500 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Stock Down 0.2 %

NYSE WSO opened at $443.21 on Friday. The business’s 50-day moving average is $412.36 and its 200 day moving average is $399.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47. The stock has a market capitalization of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $451.29.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company posted $2.83 EPS. The firm’s revenue was up .9% on a year-over-year basis. Sell-side analysts forecast that Watsco, Inc. will post 14.19 earnings per share for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. Watsco’s dividend payout ratio is 83.08%.

Analysts Set New Price Targets

WSO has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $404.25.

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.