Proficio Capital Partners LLC Takes $63.60 Million Position in Watsco, Inc. (NYSE:WSO)

Proficio Capital Partners LLC acquired a new stake in Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 134,214 shares of the construction company’s stock, valued at approximately $63,603,000. Proficio Capital Partners LLC owned about 0.33% of Watsco as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WSO. Wingate Wealth Advisors Inc. acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco during the third quarter worth $43,000. Quarry LP increased its holdings in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in Watsco during the third quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco during the fourth quarter worth $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Price Performance

WSO stock opened at $499.55 on Friday. The company has a fifty day moving average price of $484.84 and a two-hundred day moving average price of $493.04. Watsco, Inc. has a one year low of $387.58 and a one year high of $571.41. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 37.70 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.16%. Watsco’s payout ratio is presently 81.51%.

Watsco 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.