Catalyst Funds Management Pty Ltd Acquires Shares of 2,100 Watsco, Inc. (NYSE:WSO)

Catalyst Funds Management Pty Ltd purchased a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,100 shares of the construction company’s stock, valued at approximately $995,000.

Other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the 4th quarter worth approximately $36,000. Quarry LP increased its stake in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the 3rd quarter worth approximately $48,000. Finally, Atala Financial Inc purchased a new stake in shares of Watsco during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Up 3.4 %

WSO opened at $508.47 on Friday. The company has a 50 day moving average of $489.58 and a 200 day moving average of $494.99. The company has a market cap of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92. Watsco, Inc. has a 12 month low of $393.88 and a 12 month high of $571.42.

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

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WSO shares. Loop Capital raised their price target on shares of 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 price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.