First Horizon Advisors Inc. Acquires 32 Shares of Watsco, Inc. (NYSE:WSO)

First Horizon Advisors Inc. raised its stake in Watsco, Inc. (NYSE:WSO) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 544 shares of the construction company’s stock after purchasing an additional 32 shares during the period. First Horizon Advisors Inc.’s holdings in Watsco were worth $258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Toronto Dominion Bank grew its stake in shares of 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 boosted its holdings in Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC grew its stake in Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after acquiring an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Watsco by 1.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after purchasing an additional 2,738 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 0.8 %

Shares of Watsco stock opened at $497.27 on Wednesday. The company has a market capitalization of $20.08 billion, a P/E ratio of 37.53 and a beta of 0.95. The stock has a fifty day simple moving average of $484.36 and a 200 day simple moving average of $492.95. Watsco, Inc. has a 12-month low of $380.58 and a 12-month high of $571.41.

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, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco’s dividend payout ratio (DPR) is 81.51%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WSO shares. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $495.00.

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.