Confluence Wealth Services Inc. Has $885,000 Holdings in Watsco, Inc. (NYSE:WSO)

Confluence Wealth Services Inc. increased its stake in Watsco, Inc. (NYSE:WSO) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,049 shares of the construction company’s stock after buying an additional 49 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Watsco were worth $885,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $25,000. First PREMIER Bank acquired a new stake in shares of Watsco in the 1st quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $28,000. Finally, Rise Advisors LLC acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of WSO traded down $0.13 during midday trading on Tuesday, reaching $447.72. 278,094 shares of the stock were exchanged, compared to its average volume of 345,070. Watsco, Inc. has a twelve month low of $315.17 and a twelve month high of $451.29. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.68 billion, a P/E ratio of 34.44 and a beta of 0.89. The stock’s 50 day simple moving average is $413.68 and its 200 day simple moving average is $400.10.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $2.83 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analyst Upgrades and Downgrades

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

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.