Cutter & CO Brokerage Inc. Has $6.52 Million Position in Watsco, Inc. (NYSE:WSO)

Cutter & CO Brokerage Inc. grew its position in Watsco, Inc. (NYSE:WSO) by 9.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,763 shares of the construction company’s stock after buying an additional 1,186 shares during the quarter. Watsco accounts for about 1.6% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 13th largest holding. Cutter & CO Brokerage Inc.’s holdings in Watsco were worth $6,522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. J. W. Coons Advisors LLC raised its position in shares of Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after buying an additional 20 shares in the last quarter. My Legacy Advisors LLC raised its position in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after buying an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC raised its position in shares of Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after buying an additional 24 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

WSO opened at $497.27 on Wednesday. Watsco, Inc. has a fifty-two week low of $380.58 and a fifty-two week high of $571.41. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 37.53 and a beta of 0.95. The company’s 50 day moving average price is $484.36 and its two-hundred day moving average price is $492.95.

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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. 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 payout ratio is 81.51%.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Watsco

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.