Avior Wealth Management LLC Trims Holdings in Watsco, Inc. (NYSE:WSO)

Avior Wealth Management LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 7.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,060 shares of the construction company’s stock after selling 239 shares during the quarter. Avior Wealth Management LLC’s holdings in Watsco were worth $1,450,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Endeavor Private Wealth Inc. purchased a new stake in Watsco in the fourth quarter worth $148,000. Mutual Advisors LLC lifted its position in shares of Watsco by 15.4% in the 4th quarter. Mutual Advisors LLC now owns 855 shares of the construction company’s stock worth $420,000 after purchasing an additional 114 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Watsco in the 4th quarter worth about $10,446,000. Simon Quick Advisors LLC boosted its stake in shares of Watsco by 15.6% during the 4th quarter. Simon Quick Advisors LLC now owns 808 shares of the construction company’s stock valued at $383,000 after purchasing an additional 109 shares in the last quarter. Finally, MCF Advisors LLC increased its position in shares of Watsco by 30.4% during the fourth quarter. MCF Advisors LLC now owns 150 shares of the construction company’s stock valued at $71,000 after buying an additional 35 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on WSO shares. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $488.33.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.86% of the stock is owned by insiders.

Watsco Stock Performance

Shares of NYSE WSO opened at $497.97 on Friday. The company has a 50 day simple moving average of $505.82 and a two-hundred day simple moving average of $492.91. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 38.48 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business earned $4.35 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts forecast that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.17%. Watsco’s payout ratio is presently 83.46%.

About Watsco

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.