Taylor Frigon Capital Management LLC Has $1.94 Million Stake in Watsco, Inc. (NYSE:WSO)

Taylor Frigon Capital Management LLC trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,085 shares of the construction company’s stock after selling 129 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Watsco were worth $1,936,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new stake in Watsco during the third quarter worth about $43,000. Quarry LP grew its stake in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the third quarter worth about $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in Watsco during the fourth quarter worth about $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 0.1 %

WSO stock opened at $498.19 on Thursday. The stock has a market capitalization of $20.12 billion, a P/E ratio of 37.60 and a beta of 0.95. Watsco, Inc. has a 12 month low of $383.06 and a 12 month high of $571.41. The firm has a 50-day moving average price of $484.56 and a 200-day moving average price of $492.99.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, equities analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $495.00.

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.