Monte Financial Group LLC Has $4.72 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Monte Financial Group LLC lessened its holdings in shares of Watsco, Inc. (NYSE:WSO) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,962 shares of the construction company’s stock after selling 1,208 shares during the quarter. Watsco makes up about 2.0% of Monte Financial Group LLC’s holdings, making the stock its 29th biggest holding. Monte Financial Group LLC’s holdings in Watsco were worth $4,721,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Watsco during the 2nd quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Watsco in the 3rd quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Watsco during the 3rd quarter worth approximately $48,000. Finally, MCF Advisors LLC raised its holdings in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 value of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.6 %

Shares of Watsco stock opened at $494.93 on Friday. The company has a market cap of $19.99 billion, a P/E ratio of 38.25 and a beta of 0.95. The business has a 50-day moving average price of $505.31 and a two-hundred day moving average price of $493.00. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $4.35 earnings per share. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Analysts Set New Price Targets

WSO has been the subject of a number of research analyst reports. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $488.33.

Watsco Company 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.