Watsco, Inc. (NYSE:WSO) Position Trimmed by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,187 shares of the construction company’s stock after selling 910 shares during the quarter. Watsco comprises about 1.4% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 27th largest holding. Arcadia Investment Management Corp MI’s holdings in Watsco were worth $8,619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC raised its holdings in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the period. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp raised 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 buying an additional 65,846 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.86% of the stock is owned by company insiders.

Watsco Stock Performance

NYSE:WSO opened at $515.53 on Friday. The firm’s 50-day moving average is $484.99 and its 200-day moving average is $491.92. Watsco, Inc. has a 52-week low of $377.92 and a 52-week high of $571.41. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 38.91 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. Equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.09%. Watsco’s payout ratio is 81.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $495.00.

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.