Verity & Verity LLC Purchases New Shares in Watsco, Inc. (NYSE:WSO)

Verity & Verity LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,359 shares of the construction company’s stock, valued at approximately $644,000.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new position in Watsco during the second quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco in the 3rd quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter valued at approximately $48,000. Finally, MCF Advisors LLC lifted its holdings in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

WSO has been the subject of a number of recent analyst reports. Raymond James started coverage on Watsco in a research note on Friday. They issued a “market perform” rating for the company. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $488.33.

Watsco Price Performance

Shares of WSO opened at $496.92 on Friday. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock’s fifty day moving average price is $508.48 and its two-hundred day moving average price is $492.31. The firm has a market cap of $20.07 billion, a PE ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during 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 was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 earnings per share. Sell-side analysts anticipate that Watsco, Inc. will post 12.97 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

About Watsco

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.