Callan Family Office LLC Takes Position in Watsco, Inc. (NYSE:WSO)

Callan Family Office LLC purchased a new stake in Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 842 shares of the construction company’s stock, valued at approximately $399,000.

A number of other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of Watsco by 11.0% in the third quarter. Van ECK Associates Corp now owns 6,570 shares of the construction company’s stock valued at $3,064,000 after buying an additional 652 shares during the last quarter. QRG Capital Management Inc. raised its stake in Watsco by 12.5% during the 3rd quarter. QRG Capital Management Inc. now owns 1,145 shares of the construction company’s stock valued at $563,000 after acquiring an additional 127 shares during the last quarter. Equitable Trust Co. lifted its position in Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after acquiring an additional 25 shares during the period. Assetmark Inc. lifted its position in Watsco by 6.4% during the 3rd quarter. Assetmark Inc. now owns 612 shares of the construction company’s stock worth $301,000 after acquiring an additional 37 shares during the period. Finally, Baker Avenue Asset Management LP purchased a new position in shares of Watsco in the 3rd quarter valued at approximately $626,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE:WSO opened at $513.78 on Monday. Watsco, Inc. has a 1 year low of $389.08 and a 1 year high of $571.41. The stock has a fifty day moving average price of $486.30 and a two-hundred day moving average price of $494.33. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 38.78 and a beta of 0.92.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. On average, 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. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.10%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WSO shares. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Northcoast Research assumed coverage on shares of Watsco in a 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 note on Friday, January 17th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and an average price target of $486.25.

Insider Activity

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

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.