IFP Advisors Inc Has $188,000 Holdings in Watsco, Inc. (NYSE:WSO)

IFP Advisors Inc lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 26.7% during the fourth quarter, Holdings Channel reports. The fund owned 390 shares of the construction company’s stock after selling 142 shares during the quarter. IFP Advisors Inc’s holdings in Watsco were worth $188,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after buying an additional 1,038 shares during the period. Citizens Financial Group Inc. RI increased its stake in Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the period. Larson Financial Group LLC increased its stake in Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares during the period. Finally, Franklin Resources Inc. increased its stake in Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Down 2.2 %

WSO stock opened at $493.08 on Tuesday. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 37.21 and a beta of 0.95. Watsco, Inc. has a 12 month low of $388.47 and a 12 month high of $571.41. The firm has a 50 day moving average of $485.33 and a two-hundred day moving average of $493.65.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, research analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is currently 81.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $486.25.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.86% of the stock is owned by insiders.

Watsco Company 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.