Watsco, Inc. (NYSE:WSO) Stake Reduced by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821 shares of the construction company’s stock after selling 64 shares during the period. Flputnam Investment Management Co.’s holdings in Watsco were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in Watsco during the fourth quarter worth approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the 3rd quarter valued at $43,000. Quarry LP boosted its stake in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco in the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Down 2.2 %

Shares of Watsco stock opened at $493.08 on Tuesday. Watsco, Inc. has a 1 year low of $388.47 and a 1 year high of $571.41. The company has a market cap of $19.91 billion, a P/E ratio of 37.21 and a beta of 0.95. The stock has a 50-day moving average price of $485.33 and a 200 day moving average price of $493.65.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, equities analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

Analysts Set New Price Targets

WSO has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $486.25.

Watsco Company 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.