Larson Financial Group LLC Sells 337 Shares of Watsco, Inc. (NYSE:WSO)

Larson Financial Group LLC trimmed its stake in Watsco, Inc. (NYSE:WSO) by 29.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 801 shares of the construction company’s stock after selling 337 shares during the period. Larson Financial Group LLC’s holdings in Watsco were worth $380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the 4th quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter valued at $43,000. Quarry LP raised its stake in shares of Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Transactions at Watsco

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. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WSO shares. Robert W. Baird increased their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James started coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $486.25.

Watsco Stock Performance

Shares of NYSE WSO opened at $520.60 on Tuesday. Watsco, Inc. has a 52-week low of $389.08 and a 52-week high of $571.41. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 39.29 and a beta of 0.92. The stock has a 50 day moving average price of $487.22 and a 200 day moving average price of $494.62.

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

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 2.07%. Watsco’s dividend payout ratio is currently 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.