Farther Finance Advisors LLC Has $705,000 Stake in Watsco, Inc. (NYSE:WSO)

Farther Finance Advisors LLC lowered its position in Watsco, Inc. (NYSE:WSO) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,488 shares of the construction company’s stock after selling 144 shares during the period. Farther Finance Advisors LLC’s holdings in Watsco were worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WSO. Rialto Wealth Management LLC bought a new stake in shares of Watsco during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the 4th quarter worth about $36,000. Quarry LP grew its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Watsco in the 3rd quarter valued at about $48,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Watsco during the fourth quarter worth approximately $50,000. 89.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Raymond James started coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given 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.

Watsco Stock Up 3.4 %

WSO stock opened at $508.47 on Friday. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The business’s fifty day moving average is $489.58 and its 200-day moving average is $495.15. The company has a market cap of $20.54 billion, a P/E ratio of 38.38 and a beta of 0.92.

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 analysts’ consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 81.51%.

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.