Watsco, Inc. (NYSE:WSO) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC cut its position in Watsco, Inc. (NYSE:WSO) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 94,485 shares of the construction company’s stock after selling 1,090 shares during the period. Watsco makes up approximately 1.9% of Dearborn Partners LLC’s portfolio, making the stock its 9th largest position. Dearborn Partners LLC’s holdings in Watsco were worth $44,775,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco in the 3rd quarter valued at $43,000. Quarry LP increased its stake in shares of Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Watsco during the third quarter worth $48,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Up 1.5 %

WSO stock opened at $520.60 on Tuesday. Watsco, Inc. has a 52-week low of $389.08 and a 52-week high of $571.41. The firm has a market cap of $21.02 billion, a P/E ratio of 39.29 and a beta of 0.92. The company’s 50-day simple moving average is $487.22 and its 200-day simple moving average is $494.62.

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

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s dividend payout ratio is currently 81.51%.

Analysts Set New Price Targets

Several equities research analysts have commented on WSO shares. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $486.25.

Insider Activity

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 value of $5,589,293.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.86% of the company’s stock.

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.