Impact Capital Partners LLC Acquires New Stake in Watsco, Inc. (NYSE:WSO)

Impact Capital Partners LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, Holdings Channel reports. The fund bought 1,473 shares of the construction company’s stock, valued at approximately $698,000.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco in the 4th quarter worth approximately $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco in the 3rd quarter worth approximately $43,000. Quarry LP boosted its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Watsco in the 3rd quarter worth approximately $48,000. 89.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WSO has been the subject of a number of recent analyst reports. Loop Capital raised 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. 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. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Four research 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 stock currently has a consensus rating of “Hold” and a consensus price target of $486.25.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction 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 filing with the SEC, which is available at the SEC website. Insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.1 %

Watsco stock opened at $504.82 on Thursday. The company has a market capitalization of $20.39 billion, a P/E ratio of 38.10 and a beta of 0.92. The firm’s fifty day simple moving average is $488.48 and its 200-day simple moving average is $494.83. Watsco, Inc. has a 1-year low of $393.88 and a 1-year high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating 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 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.14%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.