Middleton & Co. Inc. MA Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

Middleton & Co. Inc. MA lowered its stake in Watsco, Inc. (NYSE:WSO) by 1.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,277 shares of the construction company’s stock after selling 110 shares during the period. Middleton & Co. Inc. MA’s holdings in Watsco were worth $3,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wingate Wealth Advisors Inc. purchased a new stake in Watsco during the 4th quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter valued at $43,000. Quarry LP boosted its stake in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Watsco during the 3rd quarter valued at $48,000. Finally, Golden State Wealth Management LLC purchased a new stake in Watsco during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WSO. Robert W. Baird increased their target price on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Loop Capital raised their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $486.25.

Insider Activity

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

Watsco Stock Up 0.8 %

NYSE:WSO opened at $503.80 on Friday. The business’s 50-day simple moving average is $485.23 and its two-hundred day simple moving average is $493.29. The stock has a market cap of $20.34 billion, a PE ratio of 38.02 and a beta of 0.95. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 17.59% and a net margin of 7.04%. Sell-side analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. 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 2.14%. Watsco’s payout ratio is 81.51%.

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.