Freedom Day Solutions LLC Has $3.46 Million Stake in Watsco, Inc. (NYSE:WSO)

Freedom Day Solutions LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,301 shares of the construction company’s stock after selling 191 shares during the period. Watsco accounts for 1.0% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 23rd largest holding. Freedom Day Solutions LLC’s holdings in Watsco were worth $3,460,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WSO. FMR LLC increased its holdings in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after buying an additional 346,470 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after purchasing an additional 102,640 shares during the period. State Street Corp boosted its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares during the period. Finally, Geode Capital Management LLC boosted its position in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by company insiders.

Watsco Stock Performance

Shares of Watsco stock opened at $511.11 on Thursday. The firm has a 50-day moving average of $484.90 and a 200-day moving average of $491.75. The stock has a market cap of $20.64 billion, a PE ratio of 38.57 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.61%. Equities research analysts predict that Watsco, Inc. will post 14.5 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.11%. Watsco’s payout ratio is presently 81.51%.

Analyst Ratings Changes

WSO has been the subject of a number of research analyst reports. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $495.00.

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.