602 Shares in Watsco, Inc. (NYSE:WSO) Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 602 shares of the construction company’s stock, valued at approximately $285,000.

Several other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco in the 4th quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Quarry LP grew its stake in 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 acquired a new position in Watsco in the third quarter valued at about $48,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Watsco in the fourth quarter worth about $50,000. Institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.86% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $498.19 on Thursday. The stock has a 50-day simple moving average of $484.56 and a 200 day simple moving average of $492.99. Watsco, Inc. has a 52-week low of $383.06 and a 52-week high of $571.41. The company has a market cap of $20.12 billion, a PE ratio of 37.60 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its quarterly 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco’s payout ratio is currently 81.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird upped 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, Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $495.00.

Watsco 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.