602 Shares in Watsco, Inc. (NYSE:WSO) Bought by FourThought Financial Partners LLC

FourThought Financial Partners LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 602 shares of the construction company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp raised its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC lifted its position in shares of Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after acquiring an additional 62,041 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.1 %

NYSE:WSO opened at $498.19 on Thursday. The stock has a 50 day simple moving average of $484.56 and a 200 day simple moving average of $492.99. The stock has a market cap of $20.12 billion, a P/E ratio of 37.60 and a beta of 0.95. Watsco, Inc. has a 1-year low of $383.06 and a 1-year high of $571.41.

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

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WSO shares. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird lifted their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Watsco has an average rating of “Hold” and a consensus price target of $495.00.

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.