Wealth Alliance Sells 32 Shares of Watsco, Inc. (NYSE:WSO)

Wealth Alliance cut its holdings in Watsco, Inc. (NYSE:WSO) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,964 shares of the construction company’s stock after selling 32 shares during the period. Wealth Alliance’s holdings in Watsco were worth $931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Watsco in the 4th quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter valued at $43,000. Quarry LP boosted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter valued at $48,000. Finally, Golden State Wealth Management LLC bought a new position in Watsco in the 4th quarter valued at $50,000. 89.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WSO. Raymond James began 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 shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird raised their price target on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $495.00.

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 legal filing with the SEC, which is accessible through this hyperlink. 12.86% of the stock is owned by corporate insiders.

Watsco Stock Performance

NYSE WSO opened at $515.53 on Friday. Watsco, Inc. has a 52-week low of $377.92 and a 52-week high of $571.41. The company has a market capitalization of $20.82 billion, a P/E ratio of 38.91 and a beta of 0.95. The company has a fifty day moving average of $484.99 and a 200-day moving average of $491.92.

Watsco (NYSE:WSO) last posted its quarterly earnings data 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. Watsco had a net margin of 7.04% and a return on equity of 17.61%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. As a group, analysts forecast that Watsco, Inc. will post 14.5 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.09%. 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.