Edgestream Partners L.P. Grows Stock Position in Watsco, Inc. (NYSE:WSO)

Edgestream Partners L.P. lifted its stake in Watsco, Inc. (NYSE:WSO) by 390.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,915 shares of the construction company’s stock after purchasing an additional 10,281 shares during the period. Edgestream Partners L.P.’s holdings in Watsco were worth $6,120,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. J. W. Coons Advisors LLC boosted its holdings in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 20 shares during the period. My Legacy Advisors LLC lifted its holdings in Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after buying an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus price target of $486.25.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value 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 currently owned by insiders.

Watsco Stock Performance

WSO opened at $489.06 on Friday. The business’s 50-day simple moving average is $485.59 and its 200-day simple moving average is $493.85. Watsco, Inc. has a one year low of $389.08 and a one year high of $571.41. The stock has a market capitalization of $19.75 billion, a P/E ratio of 36.91 and a beta of 0.95.

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.