Watsco, Inc. (NYSE:WSO) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 11,835 shares of the construction company’s stock after purchasing an additional 367 shares during the quarter. NewEdge Wealth LLC’s holdings in Watsco were worth $5,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the 4th quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco during the 3rd quarter valued at approximately $43,000. Quarry LP boosted its position in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group acquired a new position in Watsco during the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco during the 4th quarter worth $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 0.1 %

Shares of Watsco stock opened at $499.55 on Friday. The stock’s fifty day moving average is $484.84 and its 200-day moving average is $493.04. The firm has a market capitalization of $20.17 billion, a PE ratio of 37.70 and a beta of 0.95. Watsco, Inc. has a 12-month low of $387.58 and a 12-month high of $571.41.

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

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’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 document filed with the SEC, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

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.