Arete Wealth Advisors LLC recently increased its investment in Watsco, Inc. (NYSE:WSO). This is reported by the company’s Securities and Exchange Commission filings. In fact, this institutional investor bought 20,000 shares of his Watsco stock worth $3,494,000,000 in the fourth quarter. With such a large investment, it can be inferred that Arete Wealth Advisors LLC is predicting Watsco’s future profitability.
Arete’s move reflects Watsco’s optimistic outlook following strong quarterly results on April 20 last year. The company beat consensus estimates with his earnings per share (EPS) of $2.83 compared to his expected EPS of $2.25. Additionally, Watsco posted his $1.55 billion in revenue in the first quarter of 2021.
Watsco’s core business focuses on providing air conditioning, heating and refrigeration equipment and related parts and consumables for both residential and commercial environments. The company carries specialty parts such as compressors, motors and other components to ensure that clients are provided with all the materials needed to maintain proper air conditioning and heating equipment function. Additionally, we have a large inventory of accessories such as duct insulation and thermostats to provide our clients with a one-stop-shop experience.
Analysts suggest that based on market trends, Watsco’s financial performance remains solid, especially given the trend towards outstanding customer service efficiency coupled with high quality product standards. Core business growth.
Watsco’s performance may reflect how significant investments in HVAC systems have become important to industries with specific indoor climate requirements. Especially post-pandemic scenarios, where optimizing the quality of the indoor environment is becoming increasingly important, could work well in terms of marketing strategies that could add even more value to the product. Overall commitment to sustainability and profitability.
Watsco, Inc.: A Look at Recent Hedge Fund and Institutional Investor Activity and Stock Ratings
Watsco, Inc. is a well-known company engaged in the sale of air conditioning, heating and refrigeration equipment and related parts and supplies. The company offers a number of products including residential central air conditioning, gas, electric, oil furnace, commercial air conditioning and heating equipment. Several hedge funds and institutional investors have recently added or reduced stakes in the company. Utah Retirement Systems increased his Watts shareholding by 0.7% in the third quarter, and in the final quarter he owns 5,853 shares of the construction company worth $1,507,000 after purchasing an additional 43 shares. became.
Similarly, Crescent Grove Advisors LLC increased its stake in Watsco by 4.4% in the fourth quarter and was able to own 1,028 shares of construction company stock valued at $256,000 after purchasing an additional 43 shares in the previous quarter. rice field. The Alaska Department of Revenue increased its stake in Watsco by 1.0% in the fourth quarter, allowing it to acquire his 4,654 shares worth $1,160,000 after purchasing another 45 shares during this period.
Groesbeck Investment Management Corp NJ increased its stake in Watsco by 2.3% in the fourth quarter and now owns 2,025 shares worth $505,000 after purchasing another 45 shares. Additionally, the Arizona State Retirement System raised his Watts holding by 0.6% in the third quarter, allowing it to purchase an additional 51 shares worth $2.32 million.
It is important to note that hedge funds and other institutional investors currently own approximately 84.73% of Watsuco’s shares.
Additionally, in a recent note, on Friday April 28, 2021, Watsco announced quarterly dividend payments to shareholders. This is his $2.45 per share.
Several research firms have recently commented on Watsco’s shares. StockNews.com began covering Watsco’s shares in a report released Thursday, March 16, giving the stock a “Hold” rating. UBS Group also began covering Watsco’s shares for him, issuing a ‘neutral’ rating, suggesting he is worth $280.00 on the stock market.
In addition, KeyCorp increased its price target on Watsco stock from $365.00 to $380.00 and assigned the company an “overweight” rating in its research notes on Friday, April 21. Following this, Stephens also raised his price target from $375.00 to $400.00, giving the company an “Overweight” rating in another research note issued around the same time.
Finally, Morgan Stanley raised its earnings per share (EPS) forecast to $289.00 from $269.00 and issued an “underweight” rating to Watsuko shares in a separate research note also reported last month. .
In conclusion, a recent report shows fluctuations in hedge funds and institutional investors holding partial ownership of this well-known company, but with positive valuations provided by reputable research firms. The recent split in dividends makes Watsco an attractive option for potential investors looking for long-term, stable returns. In today’s competitive investment world.