Pinebridge Investments L.P. Buys 902 Shares of Watsco, Inc. (NYSE:WSO)

Pinebridge Investments L.P. grew its stake in Watsco, Inc. (NYSE:WSOFree Report) by 43.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,993 shares of the construction company’s stock after purchasing an additional 902 shares during the quarter. Pinebridge Investments L.P.’s holdings in Watsco were worth $1,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth approximately $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Watsco during the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. bought a new position in Watsco in the fourth quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Watsco during the fourth quarter valued at approximately $30,000. Finally, BKM Wealth Management LLC bought a new stake in Watsco during the fourth quarter worth $32,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Watsco stock opened at $462.63 on Friday. The company has a market capitalization of $18.64 billion, a PE ratio of 35.59 and a beta of 0.88. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $452.74 and a two-hundred day moving average price of $421.05. Watsco, Inc. has a 12 month low of $337.58 and a 12 month high of $491.90.

Watsco (NYSE:WSOGet Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 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 business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $2.83 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.33%. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco’s dividend payout ratio is presently 83.08%.

Insider Activity at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now directly 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Watsco has an average rating of “Hold” and an average price target of $404.25.

Check Out Our Latest Analysis on Watsco

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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