Jag Capital Management LLC Reduces Holdings in Watsco, Inc. (NYSE:WSO)

Jag Capital Management LLC lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 770 shares of the construction company’s stock after selling 61 shares during the period. Jag Capital Management LLC’s holdings in Watsco were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WSO. Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the 4th quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter worth about $43,000. Quarry LP increased its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WSO. Robert W. Baird increased their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Loop Capital increased their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Watsco presently has an average rating of “Hold” and an average target price of $486.25.

Watsco Stock Down 2.2 %

WSO stock opened at $493.08 on Tuesday. The firm has a market cap of $19.91 billion, a PE ratio of 37.21 and a beta of 0.95. The business has a 50 day moving average of $485.33 and a 200 day moving average of $493.65. Watsco, Inc. has a twelve month low of $388.47 and a twelve month high of $571.41.

Watsco (NYSE:WSO) last posted its earnings results 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 return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. On average, research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

About Watsco

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.