Oppenheimer & Co. Inc. Boosts Position in Watsco, Inc. (NYSE:WSO)

Oppenheimer & Co. Inc. raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 9.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,311 shares of the construction company’s stock after buying an additional 813 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Watsco were worth $4,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. J. W. Coons Advisors LLC grew its holdings in Watsco by 0.7% during the 3rd 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 in the last quarter. My Legacy Advisors LLC boosted its position in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after acquiring an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after acquiring an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position in shares of Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after acquiring an additional 22 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Watsco by 6.9% during the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock valued at $177,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday. Four 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.com, Watsco has a consensus rating of “Hold” and an average target price of $486.25.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Price Performance

Shares of WSO opened at $503.80 on Friday. The firm has a market cap of $20.34 billion, a P/E ratio of 38.02 and a beta of 0.95. The stock has a 50 day simple moving average of $485.23 and a two-hundred day simple moving average of $493.29. Watsco, Inc. has a 1 year low of $388.47 and a 1 year 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, topping the consensus estimate of $2.13 by $0.24. The business 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%. On average, equities analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.