Watsco, Inc. (NYSE:WSO) Shares Purchased by Amalgamated Bank

Amalgamated Bank raised its holdings in Watsco, Inc. (NYSE:WSO) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,626 shares of the construction company’s stock after acquiring an additional 79 shares during the quarter. Amalgamated Bank owned 0.06% of Watsco worth $10,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LGT Group Foundation purchased a new stake in shares of Watsco during the fourth quarter valued at $6,207,000. Heritage Wealth Management LLC purchased a new position in shares of Watsco in the fourth quarter worth approximately $478,000. First Trust Direct Indexing L.P. raised its holdings in shares of Watsco by 90.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,364 shares of the construction company’s stock valued at $585,000 after acquiring an additional 646 shares during the period. Great Valley Advisor Group Inc. raised its holdings in shares of Watsco by 145.6% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,982 shares of the construction company’s stock valued at $1,278,000 after acquiring an additional 1,768 shares during the period. Finally, ICW Investment Advisors LLC lifted its position in shares of Watsco by 6.7% in the 4th quarter. ICW Investment Advisors LLC now owns 696 shares of the construction company’s stock valued at $298,000 after acquiring an additional 44 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Up 1.9 %

NYSE WSO traded up $8.47 on Friday, reaching $464.55. The stock had a trading volume of 288,780 shares, compared to its average volume of 328,611. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 1 year low of $315.17 and a 1 year high of $466.56. The business has a 50 day moving average price of $419.56 and a 200 day moving average price of $401.87. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 35.77 and a beta of 0.86.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.83 EPS. On average, analysts forecast that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend was Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.32%. Watsco’s dividend payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $404.25.

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.