Watsco, Inc. (NYSE:WSO) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its position in Watsco, Inc. (NYSE:WSO) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373 shares of the construction company’s stock after buying an additional 43 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Watsco were worth $177,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. acquired a new position in Watsco in the 4th quarter worth $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco in the 3rd quarter worth $43,000. Quarry LP lifted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new position in Watsco in the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Activity at Watsco

In related 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 transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.86% of the company’s stock.

Watsco Stock Up 5.1 %

Shares of NYSE:WSO opened at $513.78 on Friday. Watsco, Inc. has a fifty-two week low of $389.08 and a fifty-two week high of $571.41. The firm has a 50-day simple moving average of $486.30 and a 200 day simple moving average of $494.24. The company has a market cap of $20.75 billion, a PE ratio of 38.78 and a beta of 0.92.

Watsco (NYSE:WSO) last announced 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is presently 81.51%.

Analyst Upgrades and Downgrades

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

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.