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

Icon Wealth Advisors LLC boosted its position in Watsco, Inc. (NYSE:WSO) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,409 shares of the construction company’s stock after acquiring 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 quarter.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on WSO shares. JPMorgan Chase & Co. increased their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northcoast Research assumed coverage on Watsco in a research report on Friday. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $491.25.

Watsco Trading Up 1.6 %

Shares of Watsco stock opened at $554.79 on Friday. The stock’s fifty day simple moving average is $499.99 and its 200 day simple moving average is $485.16. The company has a market capitalization of $22.40 billion, a PE ratio of 42.87 and a beta of 0.88. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $555.42.

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

Watsco Announces Dividend

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