Trueblood Wealth Management LLC Acquires 103 Shares of Watsco, Inc. (NYSE:WSO)

Trueblood Wealth Management LLC grew its holdings in Watsco, Inc. (NYSE:WSO) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,783 shares of the construction company’s stock after purchasing an additional 103 shares during the period. Watsco makes up approximately 0.9% of Trueblood Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Trueblood Wealth Management LLC’s holdings in Watsco were worth $1,793,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WSO. American Century Companies Inc. boosted its stake in shares of Watsco by 3.9% in the 2nd quarter. American Century Companies Inc. now owns 13,733 shares of the construction company’s stock valued at $6,362,000 after purchasing an additional 513 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Watsco by 22.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,499 shares of the construction company’s stock valued at $1,621,000 after acquiring an additional 648 shares during the period. Intech Investment Management LLC raised its position in shares of Watsco by 495.1% in the 2nd quarter. Intech Investment Management LLC now owns 10,730 shares of the construction company’s stock valued at $4,971,000 after acquiring an additional 8,927 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Watsco by 2.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,445 shares of the construction company’s stock valued at $3,449,000 after acquiring an additional 200 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Watsco by 6.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 39,679 shares of the construction company’s stock valued at $18,381,000 after acquiring an additional 2,458 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of WSO stock opened at $496.92 on Monday. The company has a market capitalization of $20.07 billion, a P/E ratio of 38.40 and a beta of 0.95. The company’s 50 day moving average price is $508.48 and its two-hundred day moving average price is $492.50. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 earnings per share. Analysts forecast that Watsco, Inc. will post 12.97 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco’s dividend payout ratio is currently 83.46%.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of analyst reports. Raymond James initiated coverage on shares of Watsco in a research report on Friday. They issued a “market perform” rating on the stock. Robert W. Baird cut their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $488.33.

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.