Welch & Forbes LLC Sells 622 Shares of Watsco, Inc. (NYSE:WSO)

Welch & Forbes LLC cut its position in Watsco, Inc. (NYSE:WSO) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,281 shares of the construction company’s stock after selling 622 shares during the quarter. Watsco comprises approximately 1.3% of Welch & Forbes LLC’s holdings, making the stock its 21st biggest position. Welch & Forbes LLC owned approximately 0.53% of Watsco worth $101,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC boosted its position in shares of Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after acquiring an additional 20 shares during the period. My Legacy Advisors LLC boosted its position in shares of Watsco by 3.2% in the fourth 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 period. Avidian Wealth Enterprises LLC raised its stake in Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after purchasing an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC raised its stake in Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after purchasing an additional 22 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Watsco by 1.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after purchasing an additional 23 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Loop Capital boosted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $486.25.

Watsco Trading Down 2.5 %

Shares of NYSE WSO opened at $489.06 on Friday. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 36.91 and a beta of 0.95. Watsco, Inc. has a 12 month low of $389.08 and a 12 month high of $571.41. The stock has a 50-day moving average price of $485.59 and a two-hundred day moving average price of $493.85.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during 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, sell-side analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Company insiders own 12.86% of the company’s stock.

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.