Parkside Financial Bank & Trust Has $258,000 Stock Holdings in Watsco, Inc. (NYSE:WSO)

Parkside Financial Bank & Trust cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 544 shares of the construction company’s stock after selling 40 shares during the period. Parkside Financial Bank & Trust’s holdings in Watsco were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WSO. Toronto Dominion Bank raised its position in Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after buying an additional 1,038 shares during the period. Citizens Financial Group Inc. RI raised its position in Watsco by 40.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the period. Larson Financial Group LLC raised its position in Watsco by 3,571.0% during the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares during the period. Finally, Franklin Resources Inc. raised its position in Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Watsco

In other 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 transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Watsco Stock Performance

WSO opened at $503.80 on Friday. The company has a market cap of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95. The stock has a 50-day moving average of $485.23 and a 200-day moving average of $493.42. Watsco, Inc. has a 52-week low of $388.47 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings results 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 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%. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.14%. Watsco’s dividend payout ratio (DPR) is presently 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.