Appleton Partners Inc. MA Buys 381 Shares of Watsco, Inc. (NYSE:WSO)

Appleton Partners Inc. MA boosted its stake in Watsco, Inc. (NYSE:WSOFree Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,586 shares of the construction company’s stock after acquiring an additional 381 shares during the period. Appleton Partners Inc. MA’s holdings in Watsco were worth $4,141,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Watsco by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,265,589 shares of the construction company’s stock worth $1,399,207,000 after acquiring an additional 55,119 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Watsco by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,655,946 shares of the construction company’s stock worth $625,484,000 after acquiring an additional 7,723 shares during the period. Wellington Management Group LLP increased its stake in shares of Watsco by 2.6% in the third quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after purchasing an additional 16,589 shares in the last quarter. Markel Group Inc. increased its stake in shares of Watsco by 2.0% in the fourth quarter. Markel Group Inc. now owns 556,750 shares of the construction company’s stock worth $238,551,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Watsco by 4.8% in the fourth quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock worth $145,690,000 after purchasing an additional 15,552 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WSO. Robert W. Baird lifted their target price on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $404.25.

Check Out Our Latest Stock Analysis on Watsco

Watsco Price Performance

NYSE:WSO traded up $3.10 during mid-day trading on Tuesday, hitting $489.58. 38,453 shares of the stock traded hands, compared to its average volume of 318,374. The business’s 50-day moving average price is $457.68 and its 200 day moving average price is $425.24. The company has a market cap of $19.73 billion, a PE ratio of 37.42 and a beta of 0.88. Watsco, Inc. has a 12-month low of $337.58 and a 12-month high of $491.90. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSOGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 EPS. On average, analysts expect that Watsco, Inc. will post 14.26 EPS for the current fiscal year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is currently 83.08%.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total value of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The disclosure for this sale can be found here. Corporate insiders own 12.86% of the company’s stock.

Watsco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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