Boston Financial Mangement LLC Raises Holdings in Watsco, Inc. (NYSE:WSO)

Boston Financial Mangement LLC grew its stake in Watsco, Inc. (NYSE:WSO) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 342,412 shares of the construction company’s stock after purchasing an additional 1,147 shares during the period. Watsco makes up about 4.9% of Boston Financial Mangement LLC’s portfolio, making the stock its 2nd biggest position. Boston Financial Mangement LLC’s holdings in Watsco were worth $162,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. J. W. Coons Advisors LLC lifted its position 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 worth $1,475,000 after buying an additional 20 shares during the last quarter. My Legacy Advisors LLC raised its stake in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after acquiring an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC boosted its stake in shares of 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 purchasing an additional 22 shares during the period. Finally, Principal Securities Inc. grew its holdings in Watsco by 6.9% during the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 document filed with the SEC, which can be accessed through this hyperlink. 12.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $495.00.

Watsco Price Performance

Shares of WSO stock opened at $511.11 on Thursday. The company’s 50-day simple moving average is $484.90 and its two-hundred day simple moving average is $491.75. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company has a market capitalization of $20.64 billion, a P/E ratio of 38.57 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.61% and a net margin of 7.04%. On average, research analysts expect that Watsco, Inc. will post 14.5 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. Watsco’s payout ratio is currently 81.51%.

Watsco 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.