Wilkinson Global Asset Management LLC Lowers Stock Holdings in Watsco, Inc. (NYSE:WSO)

Wilkinson Global Asset Management LLC reduced its position in Watsco, Inc. (NYSE:WSO) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,128 shares of the construction company’s stock after selling 198 shares during the quarter. Watsco makes up approximately 2.5% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 18th biggest position. Wilkinson Global Asset Management LLC owned 0.22% of Watsco worth $41,289,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Watsco during the fourth quarter worth $1,003,000. Atria Wealth Solutions Inc. increased its holdings in Watsco by 14.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company’s stock worth $762,000 after purchasing an additional 197 shares during the period. Venturi Wealth Management LLC increased its holdings in Watsco by 5.4% during the 4th quarter. Venturi Wealth Management LLC now owns 865 shares of the construction company’s stock worth $410,000 after purchasing an additional 44 shares during the period. D.A. Davidson & CO. raised its position in Watsco by 0.6% in the 4th quarter. D.A. Davidson & CO. now owns 9,139 shares of the construction company’s stock valued at $4,331,000 after purchasing an additional 55 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Watsco by 4.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,170 shares of the construction company’s stock valued at $1,028,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Up 9.6 %

WSO stock opened at $530.16 on Wednesday. The business has a 50 day moving average price of $484.96 and a 200 day moving average price of $491.61. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 40.97 and a beta of 0.95. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 6.99% and a return on equity of 17.77%. As a group, sell-side analysts anticipate that Watsco, Inc. will post 13.03 EPS for the current year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 2.04%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 83.46%.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

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

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.