BankPlus Trust Department Makes New Investment in Watsco, Inc. (NYSE:WSO)

BankPlus Trust Department bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, Holdings Channel reports. The firm bought 489 shares of the construction company’s stock, valued at approximately $232,000.

A number of other institutional investors have also recently bought and sold shares of the business. Toronto Dominion Bank grew its holdings 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 grew its holdings in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the period. Larson Financial Group LLC grew its holdings in shares of Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock valued at $31,853,000 after buying an additional 1,074 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Watsco by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after buying an additional 2,738 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 0.4 %

WSO opened at $500.57 on Tuesday. The stock has a market capitalization of $20.21 billion, a P/E ratio of 37.78 and a beta of 0.95. Watsco, Inc. has a 12 month low of $380.58 and a 12 month high of $571.41. The firm’s fifty day simple moving average is $484.58 and its 200 day simple moving average is $492.77.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.16%. Watsco’s dividend payout ratio is currently 81.51%.

Insiders Place Their Bets

In other Watsco 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 transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

WSO has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company 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.