Flputnam Investment Management Co. Has $389,000 Holdings in Watsco, Inc. (NYSE:WSO)

Flputnam Investment Management Co. decreased its stake in shares of Watsco, Inc. (NYSE:WSO) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 821 shares of the construction company’s stock after selling 64 shares during the period. Flputnam Investment Management Co.’s holdings in Watsco were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WSO. Stephens Inc. AR grew its holdings in Watsco by 6.9% during the third quarter. Stephens Inc. AR now owns 902 shares of the construction company’s stock valued at $444,000 after purchasing an additional 58 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in Watsco by 5.5% in the 3rd quarter. Confluence Wealth Services Inc. now owns 2,289 shares of the construction company’s stock valued at $1,125,000 after buying an additional 120 shares during the last quarter. Van ECK Associates Corp raised its holdings in Watsco by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 6,570 shares of the construction company’s stock worth $3,064,000 after acquiring an additional 652 shares during the period. Asset Management One Co. Ltd. raised its holdings in Watsco by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 12,168 shares of the construction company’s stock worth $5,985,000 after acquiring an additional 137 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Watsco by 12.5% during the 3rd quarter. QRG Capital Management Inc. now owns 1,145 shares of the construction company’s stock worth $563,000 after acquiring an additional 127 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Watsco stock opened at $493.08 on Tuesday. The business’s fifty day moving average is $485.33 and its two-hundred day moving average is $493.65. The firm has a market cap of $19.91 billion, a P/E ratio of 37.21 and a beta of 0.95. Watsco, Inc. has a 52 week low of $388.47 and a 52 week high of $571.41.

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

Watsco Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.19%. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the 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 SEC, which can be accessed through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.