Prime Capital Investment Advisors LLC Has $1.79 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Prime Capital Investment Advisors LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,628 shares of the construction company’s stock after buying an additional 140 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Watsco were worth $1,785,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC increased its position in Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after acquiring an additional 29 shares during the period. Quarry LP bought a new position in Watsco during the second quarter worth about $26,000. Tortoise Investment Management LLC increased its position in Watsco by 76.2% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock worth $34,000 after acquiring an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Watsco Stock Up 1.8 %

WSO stock opened at $543.06 on Thursday. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $545.49. The firm has a market cap of $21.93 billion, a P/E ratio of 41.97 and a beta of 0.88. The company’s 50-day moving average price is $489.51 and its two-hundred day moving average price is $481.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $4.35 earnings per share. Equities analysts predict that Watsco, Inc. will post 13.2 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Watsco Company 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.