5 Dividend Stocks to Buy According to Bryan Hinmon’s Motley Fool Asset Management

1. Watsco, Inc. (NYSE:WSO)

Motley Fool Asset Management’s Stake Value: $51,271,000
Dividend Yield as of June 17: 3.87%
Number of Hedge Fund Holders: 22

Watsco, Inc. (NYSE:WSO) is a Miami-based largest distributor of air conditioning, heating, and refrigeration equipment. In Q1 2022, the company posted a 25% year-over-year growth in its same-store sales, while its gross revenue came in at $1.52 billion, which beat estimates by $130 million.

In April 2022, Watsco, Inc. (NYSE:WSO) announced a 13% hike in its quarterly dividend to $2.20 per share. The company has been paying uninterrupted dividends to shareholders for the past 48 years. The stock’s dividend yield came in at 3.87% on June 17. Recognizing the company’s internal parts initiatives and higher efficiency sales, Baird raised its price target on Watsco, Inc. (NYSE:WSO) to $350 in April, while maintaining a Neutral rating on the shares.

At the end of Q1 2022, Watsco, Inc. (NYSE:WSO) was the fifth-largest holding of Motley Fool, as the hedge fund owned stakes worth over $51.2 million in the company. It accounted for 3.75% of Bryan Hinmon’s portfolio.

At the end of March 2022, Watsco, Inc. (NYSE:WSO) saw a reduction in the hedge fund positions, as 22 elite funds tracked by Insider Monkey owned stakes in the company, down from 31 in the previous quarter. The consolidated value of these stakes is over $334.3 million. Renaissance Technologies was one of the company’s most prominent shareholders in Q1.

You can also take a look at 10 Best Fertilizer Stocks To Buy Now and 10 Stocks to Sell According to Billionaire Daniel Sundheim

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