MCF Advisors LLC Acquires 35 Shares of Watsco, Inc. (NYSE:WSO)

MCF Advisors LLC increased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150 shares of the construction company’s stock after purchasing an additional 35 shares during the quarter. MCF Advisors LLC’s holdings in Watsco were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of WSO. Quarry LP bought a new position in Watsco during the 2nd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco during the third quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the third quarter worth approximately $48,000. Finally, Anchor Investment Management LLC grew its position in Watsco by 500.0% in the 3rd quarter. Anchor Investment Management LLC now owns 228 shares of the construction company’s stock worth $112,000 after purchasing an additional 190 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’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 can be accessed through this link. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

NYSE WSO opened at $505.84 on Thursday. The company has a market capitalization of $20.43 billion, a PE ratio of 39.09 and a beta of 0.95. The business’s fifty day moving average is $506.37 and its 200 day moving average is $492.88. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

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

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend 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.