TrinityPoint Wealth LLC Has $785,000 Holdings in Watsco, Inc. (NYSE:WSO)

TrinityPoint Wealth LLC cut its stake in Watsco, Inc. (NYSE:WSOFree Report) by 22.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,833 shares of the construction company’s stock after selling 523 shares during the period. TrinityPoint Wealth LLC’s holdings in Watsco were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WSO. Teacher Retirement System of Texas increased its holdings in Watsco by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 2,589 shares of the construction company’s stock valued at $978,000 after purchasing an additional 71 shares in the last quarter. Private Advisor Group LLC increased its holdings in Watsco by 4.0% during the 3rd quarter. Private Advisor Group LLC now owns 2,082 shares of the construction company’s stock valued at $786,000 after purchasing an additional 80 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Watsco by 13.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 9,155 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,100 shares in the last quarter. Signaturefd LLC increased its holdings in Watsco by 31.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the construction company’s stock valued at $256,000 after purchasing an additional 163 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Watsco during the 3rd quarter valued at $219,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Up 2.2 %

NYSE:WSO opened at $489.54 on Tuesday. Watsco, Inc. has a 12-month low of $318.53 and a 12-month high of $491.90. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.73 billion, a P/E ratio of 37.66 and a beta of 0.86. The stock’s fifty day simple moving average is $445.74 and its 200-day simple moving average is $416.18.

Watsco (NYSE:WSOGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the business earned $2.83 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WSO shares. Robert W. Baird raised their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Watsco presently has a consensus rating of “Hold” and a consensus price target of $404.25.

Get Our Latest Research Report on WSO

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Barry S. Logan sold 774 shares of Watsco stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is owned by corporate insiders.

Watsco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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