Watsco, Inc. (NYSE:WSO) is Dearborn Partners LLC’s 9th Largest Position

Dearborn Partners LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,485 shares of the construction company’s stock after selling 1,090 shares during the period. Watsco accounts for 1.9% of Dearborn Partners LLC’s holdings, making the stock its 9th biggest holding. Dearborn Partners LLC owned about 0.23% of Watsco worth $44,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. FMR LLC grew its stake in Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after buying an additional 118,713 shares during the period. State Street Corp grew its position in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Watsco by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after acquiring an additional 41,845 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 1.5 %

NYSE WSO opened at $520.60 on Tuesday. The firm has a market cap of $21.02 billion, a PE ratio of 39.29 and a beta of 0.92. Watsco, Inc. has a 52 week low of $389.08 and a 52 week high of $571.41. The company has a 50 day moving average price of $487.22 and a 200 day moving average price of $494.62.

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 analysts’ consensus estimates 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 return on equity of 17.59% and a net margin of 7.04%. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared 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 2.07%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 81.51%.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

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