Boston Financial Mangement LLC Raises Stake in Watsco, Inc. (NYSE:WSO)

Boston Financial Mangement LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 342,412 shares of the construction company’s stock after buying an additional 1,147 shares during the quarter. Watsco makes up about 4.9% of Boston Financial Mangement LLC’s investment portfolio, making the stock its 2nd largest holding. Boston Financial Mangement LLC owned approximately 0.85% of Watsco worth $162,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after acquiring an additional 62,041 shares in the last quarter. State Street Corp raised its stake in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after acquiring an additional 65,846 shares during the period. Geode Capital Management LLC lifted its holdings in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. boosted its position in shares of Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after purchasing an additional 11,250 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $511.11 on Thursday. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 38.57 and a beta of 0.95. The firm has a fifty day moving average price of $484.90 and a 200 day moving average price of $491.75. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.61%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, research analysts predict that Watsco, Inc. will post 14.5 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 81.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WSO shares. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird upped their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three 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 currently has a consensus rating of “Hold” and an average target price 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.