Callan Family Office LLC Purchases Shares of 842 Watsco, Inc. (NYSE:WSO)

Callan Family Office LLC acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 842 shares of the construction company’s stock, valued at approximately $399,000.

A number of other hedge funds have also modified their holdings of WSO. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco in the third quarter valued at $43,000. Quarry LP boosted its stake in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Watsco during the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter valued at about $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSO has been the topic of several analyst reports. Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Robert W. Baird increased their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four investment 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 stock presently has a consensus rating of “Hold” and a consensus target price of $486.25.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.86% of the stock is owned by company insiders.

Watsco Price Performance

Shares of WSO stock opened at $513.78 on Monday. The firm’s 50-day simple moving average is $486.30 and its 200-day simple moving average is $494.33. Watsco, Inc. has a 1-year low of $389.08 and a 1-year high of $571.41. The firm has a market cap of $20.75 billion, a P/E ratio of 38.78 and a beta of 0.92.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion for 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%. Analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

About Watsco

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.