HB Wealth Management LLC Acquires Shares of 757 Watsco, Inc. (NYSE:WSO)

HB Wealth Management LLC acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 757 shares of the construction company’s stock, valued at approximately $359,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Watsco during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth $43,000. Massmutual Trust Co. FSB ADV lifted its stake in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the last quarter. Brooklyn Investment Group bought a new position in Watsco during the third quarter worth $48,000. Finally, MCF Advisors LLC boosted its holdings in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WSO has been the topic of several research reports. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird reduced their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $488.33.

Watsco Price Performance

WSO opened at $497.97 on Friday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The business has a 50 day moving average price of $505.82 and a two-hundred day moving average price of $492.91. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 38.48 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. Watsco’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts expect that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.