Global Retirement Partners LLC Acquires 88 Shares of Watsco, Inc. (NYSE:WSO)

Global Retirement Partners LLC lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 71.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 212 shares of the construction company’s stock after buying an additional 88 shares during the quarter. Global Retirement Partners LLC’s holdings in Watsco were worth $100,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WSO. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Watsco during the fourth quarter valued at about $1,003,000. Atria Wealth Solutions Inc. lifted its stake in shares of Watsco by 14.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company’s stock valued at $762,000 after acquiring an additional 197 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Watsco by 5.4% during the 4th quarter. Venturi Wealth Management LLC now owns 865 shares of the construction company’s stock valued at $410,000 after acquiring an additional 44 shares during the period. D.A. Davidson & CO. grew its position in Watsco by 0.6% during the 4th quarter. D.A. Davidson & CO. now owns 9,139 shares of the construction company’s stock worth $4,331,000 after acquiring an additional 55 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Watsco by 4.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,170 shares of the construction company’s stock worth $1,028,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on WSO shares. Loop Capital raised their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird increased their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Trading Up 0.1 %

Shares of NYSE WSO opened at $499.55 on Friday. The firm has a fifty day simple moving average of $484.84 and a two-hundred day simple moving average of $493.04. Watsco, Inc. has a 12 month low of $387.58 and a 12 month high of $571.41. The firm has a market capitalization of $20.17 billion, a PE ratio of 37.70 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The company 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, sell-side analysts predict that Watsco, Inc. will post 14.62 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. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. Watsco’s dividend payout ratio is presently 81.51%.

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.