My Legacy Advisors LLC Increases Stock Position in Watsco, Inc. (NYSE:WSO)

My Legacy Advisors LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 687 shares of the construction company’s stock after purchasing an additional 21 shares during the quarter. My Legacy Advisors LLC’s holdings in Watsco were worth $329,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after buying an additional 346,470 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after purchasing an additional 233,167 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares in the last quarter. State Street Corp raised its stake in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after acquiring an additional 63,254 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Price Performance

Shares of Watsco stock opened at $496.92 on Monday. The firm has a fifty day moving average price of $508.48 and a two-hundred day moving average price of $492.50. 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 cap of $20.07 billion, a PE ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Watsco, Inc. will post 12.97 earnings per share for the current fiscal year.

Watsco Announces Dividend

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

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was 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 available through the SEC website. Corporate insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WSO. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Raymond James initiated coverage on shares of Watsco in a report on Friday. They set a “market perform” rating for the company. Finally, Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $488.33.

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.