Prospera Financial Services Inc Raises Stake in Watsco, Inc. $WSO

Prospera Financial Services Inc boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 2,549.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,186 shares of the construction company’s stock after buying an additional 23,273 shares during the quarter. Prospera Financial Services Inc’s holdings in Watsco were worth $10,683,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Trust Co. of Vermont grew its position in shares of Watsco by 10.2% during the 2nd quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock valued at $105,000 after acquiring an additional 22 shares during the period. Cary Street Partners Financial LLC raised its holdings in shares of Watsco by 2.2% in the 1st quarter. Cary Street Partners Financial LLC now owns 1,073 shares of the construction company’s stock worth $545,000 after purchasing an additional 23 shares during the period. Freedom Investment Management Inc. grew its holdings in Watsco by 4.8% during the first quarter. Freedom Investment Management Inc. now owns 504 shares of the construction company’s stock valued at $256,000 after purchasing an additional 23 shares during the period. Valeo Financial Advisors LLC grew its holdings in Watsco by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 1,056 shares of the construction company’s stock valued at $537,000 after purchasing an additional 24 shares during the period. Finally, Nicolet Advisory Services LLC increased its position in Watsco by 1.5% in the first quarter. Nicolet Advisory Services LLC now owns 1,705 shares of the construction company’s stock worth $851,000 after buying an additional 25 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 0.2%

Shares of WSO opened at $351.96 on Friday. Watsco, Inc. has a 12-month low of $344.52 and a 12-month high of $571.41. The company has a market cap of $14.27 billion, a PE ratio of 27.50 and a beta of 0.93. The stock has a 50-day moving average price of $382.83 and a 200-day moving average price of $425.98.

Watsco (NYSE:WSO) last announced its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. The business had revenue of $2.07 billion for the quarter. As a group, analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were given a $3.00 dividend. The ex-dividend date was Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.4%. Watsco’s payout ratio is 93.75%.

Analyst Ratings Changes

WSO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. Zacks Research downgraded shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. William Blair reiterated a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. JPMorgan Chase & Co. dropped their price target on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Morgan Stanley reduced their price objective on shares of Watsco from $505.00 to $460.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $435.00.

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.