VisionPoint Advisory Group LLC Invests $71,000 in Watsco, Inc. (NYSE:WSO)

VisionPoint Advisory Group LLC acquired a new position in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 151 shares of the construction company’s stock, valued at approximately $71,000.

Several other large investors have also recently added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the fourth quarter worth $36,000. Ashton Thomas Securities LLC acquired a new stake in Watsco in the third quarter worth about $43,000. Quarry LP grew its position in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter valued at about $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco during the 4th quarter valued at about $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 3.3 %

Shares of NYSE WSO opened at $498.12 on Friday. The firm has a 50-day moving average of $484.75 and a two-hundred day moving average of $492.16. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a twelve month low of $380.58 and a twelve month high of $571.41.

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

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is presently 81.51%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $495.00.

Insider Buying and Selling

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 shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal 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.