Avior Wealth Management LLC Sells 239 Shares of Watsco, Inc. (NYSE:WSO)

Avior Wealth Management LLC reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 3,060 shares of the construction company’s stock after selling 239 shares during the period. Avior Wealth Management LLC’s holdings in Watsco were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP purchased a new position in Watsco in the 2nd quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Watsco in the third quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the period. Brooklyn Investment Group purchased a new position in shares of Watsco during the third quarter valued at approximately $48,000. Finally, MCF Advisors LLC lifted its position in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares during the period. 89.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research analyst reports. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $488.33.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.86% of the company’s stock.

Watsco Trading Down 1.5 %

WSO opened at $497.97 on Friday. The firm’s 50 day simple moving average is $505.82 and its two-hundred day simple moving average is $492.91. The company has a market capitalization of $20.11 billion, a PE ratio of 38.48 and a beta of 0.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

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

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

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.