Birch Capital Management LLC Purchases 386 Shares of Watsco, Inc. (NYSE:WSO)

Birch Capital Management LLC grew its position in shares of Watsco, Inc. (NYSE:WSOFree Report) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,052 shares of the construction company’s stock after buying an additional 386 shares during the quarter. Birch Capital Management LLC’s holdings in Watsco were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Watsco by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,265,589 shares of the construction company’s stock worth $1,399,207,000 after purchasing an additional 55,119 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Watsco by 0.5% during 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 purchasing an additional 7,723 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Watsco by 2.6% during 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. lifted its position in shares of Watsco by 2.0% during 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. lifted its position in shares of Watsco by 4.8% during 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. 89.71% of the stock is owned by institutional investors.

Insider Activity at Watsco

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

Watsco Trading Down 1.9 %

WSO traded down $9.14 during mid-day trading on Friday, hitting $472.15. The stock had a trading volume of 708,216 shares, compared to its average volume of 222,297. The stock’s fifty day simple moving average is $462.52 and its 200-day simple moving average is $427.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 36.32 and a beta of 0.88. Watsco, Inc. has a 1-year low of $337.58 and a 1-year high of $493.65.

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

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a yield of 2.29%. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is 83.08%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Watsco in a research report on Thursday, April 25th. Robert W. Baird increased their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus target price of $404.25.

View Our Latest Stock Analysis on Watsco

About Watsco

(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.

Further Reading

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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