Larson Financial Group LLC Sells 337 Shares of Watsco, Inc. (NYSE:WSO)

Larson Financial Group LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 801 shares of the construction company’s stock after selling 337 shares during the quarter. Larson Financial Group LLC’s holdings in Watsco were worth $380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WSO. FMR LLC lifted its stake in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. raised its position in Watsco by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after acquiring an additional 118,713 shares during the period. State Street Corp boosted its stake in shares of 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 last quarter. Geode Capital Management LLC grew its position in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after acquiring an additional 63,254 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock worth $228,263,000 after purchasing an additional 41,845 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business’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 SEC, which is accessible through this link. Insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

WSO has been the topic of several analyst reports. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird raised their price objective on shares of Watsco from $540.00 to $560.00 and gave the company 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $486.25.

Watsco Trading Up 1.5 %

Shares of WSO opened at $520.60 on Tuesday. Watsco, Inc. has a 12-month low of $389.08 and a 12-month high of $571.41. The business’s 50 day moving average is $487.22 and its 200 day moving average is $494.62. The company has a market capitalization of $21.02 billion, a PE ratio of 39.29 and a beta of 0.92.

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 17.59%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.