Arcadia Investment Management Corp MI Sells 910 Shares of Watsco, Inc. (NYSE:WSO)

Arcadia Investment Management Corp MI decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 18,187 shares of the construction company’s stock after selling 910 shares during the quarter. Watsco accounts for approximately 1.4% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 27th biggest position. Arcadia Investment Management Corp MI’s holdings in Watsco were worth $8,619,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the fourth quarter worth $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the 3rd quarter worth about $43,000. Quarry LP increased its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group bought a new position in Watsco during the third quarter worth about $48,000. Finally, Golden State Wealth Management LLC bought a new position in Watsco during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

NYSE WSO opened at $515.53 on Friday. Watsco, Inc. has a 1 year low of $377.92 and a 1 year high of $571.41. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 38.91 and a beta of 0.95. The company has a fifty day moving average price of $484.99 and a 200-day moving average price of $491.92.

Watsco (NYSE:WSO) last posted its earnings results 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared 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 dividend yield of 2.09%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analyst Upgrades and Downgrades

WSO has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Three 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.com, the company presently has an average rating of “Hold” and a consensus price target of $495.00.

Insider Buying and Selling

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