TCI Wealth Advisors Inc. Grows Stake in Watsco, Inc. $WSO

TCI Wealth Advisors Inc. boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 74.3% during the 1st quarter, Holdings Channel reports. The firm owned 3,111 shares of the construction company’s stock after buying an additional 1,326 shares during the period. TCI Wealth Advisors Inc.’s holdings in Watsco were worth $1,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Torren Management LLC bought a new position in Watsco in the 4th quarter worth approximately $26,000. Bayban bought a new stake in shares of Watsco during the fourth quarter valued at approximately $29,000. Bamco Inc. NY bought a new stake in shares of Watsco during the fourth quarter valued at approximately $35,000. Laurel Wealth Advisors LLC bought a new stake in shares of Watsco during the fourth quarter valued at approximately $37,000. Finally, Quarry LP purchased a new position in shares of Watsco in the fourth quarter worth $37,000. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE WSO opened at $403.43 on Friday. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $494.94. The business has a 50 day simple moving average of $399.01 and a two-hundred day simple moving average of $389.62. The stock has a market capitalization of $16.40 billion, a PE ratio of 33.48 and a beta of 1.02.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.14. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. On average, analysts anticipate that Watsco, Inc. will post 12.66 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, July 16th. Watsco’s payout ratio is currently 109.54%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WSO. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. DA Davidson began coverage on shares of Watsco in a research note on Tuesday, June 16th. They issued a “neutral” rating and a $385.00 price target on the stock. Finally, Stephens boosted their price target on shares of Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $397.71.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.