Watsco, Inc. (NYSE:WSO) Stock Holdings Lessened by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,593 shares of the construction company’s stock after selling 73 shares during the period. Schechter Investment Advisors LLC’s holdings in Watsco were worth $1,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J. W. Coons Advisors LLC lifted its stake in Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after buying an additional 20 shares during the last quarter. My Legacy Advisors LLC grew its position in Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after purchasing an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC raised its holdings in shares of Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock worth $177,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of WSO opened at $493.08 on Tuesday. The firm’s 50 day moving average is $485.33 and its 200-day moving average is $493.65. Watsco, Inc. has a 12-month low of $388.47 and a 12-month high of $571.41. The stock has a market capitalization of $19.91 billion, a P/E ratio of 37.21 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its quarterly 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is 81.51%.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.