Bradley Foster & Sargent Inc. CT Boosts Stake in Watsco, Inc. (NYSE:WSO)

Bradley Foster & Sargent Inc. CT lifted its holdings in Watsco, Inc. (NYSE:WSO) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,900 shares of the construction company’s stock after buying an additional 132 shares during the period. Bradley Foster & Sargent Inc. CT owned approximately 0.12% of Watsco worth $22,225,000 at the end of the most recent reporting period.

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

Watsco Trading Up 0.8 %

NYSE WSO opened at $515.53 on Friday. The firm has a market cap of $20.82 billion, a PE ratio of 38.91 and a beta of 0.95. Watsco, Inc. has a 1-year low of $377.92 and a 1-year high of $571.41. The stock has a 50-day moving average of $484.99 and a 200-day moving average of $491.92.

Watsco (NYSE:WSO) last issued its 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. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, equities research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analyst Ratings Changes

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

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.86% of the company’s stock.

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.