Atomi Financial Group Inc. Grows Position in Watsco, Inc. (NYSE:WSO)

Atomi Financial Group Inc. grew its holdings in Watsco, Inc. (NYSE:WSO) by 60.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,565 shares of the construction company’s stock after purchasing an additional 592 shares during the period. Atomi Financial Group Inc.’s holdings in Watsco were worth $742,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC grew its holdings in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after buying an additional 346,470 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after acquiring an additional 233,167 shares during the period. Benjamin Edwards Inc. grew its stake in Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares in the last quarter. State Street Corp increased its holdings in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after acquiring an additional 65,846 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WSO. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus price target of $488.33.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the company’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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE:WSO opened at $505.84 on Thursday. The firm has a market capitalization of $20.43 billion, a PE ratio of 39.09 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The firm has a fifty day moving average of $506.37 and a 200 day moving average of $492.88.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. On average, sell-side analysts forecast that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

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.