Atomi Financial Group Inc. Raises Holdings in Watsco, Inc. (NYSE:WSO)

Atomi Financial Group Inc. increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 60.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,565 shares of the construction company’s stock after acquiring an additional 592 shares during the quarter. Atomi Financial Group Inc.’s holdings in Watsco were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WSO. Quarry LP bought a new position in shares of Watsco in the second quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco in the third quarter valued at about $43,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter worth about $48,000. Finally, MCF Advisors LLC boosted its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of NYSE:WSO opened at $505.84 on Thursday. The firm has a market capitalization of $20.43 billion, a P/E ratio of 39.09 and a beta of 0.95. The stock has a 50 day moving average price of $506.37 and a 200-day moving average price of $492.88. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $4.35 EPS. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.14%. Watsco’s payout ratio is 83.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $488.33.

Insider Activity at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

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.