Impact Capital Partners LLC Purchases New Holdings in Watsco, Inc. (NYSE:WSO)

Impact Capital Partners LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,473 shares of the construction company's stock, valued at approximately $698,000.

A number of other large investors also recently added to or reduced their stakes in WSO. Rialto Wealth Management LLC purchased a new position in Watsco in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new position in Watsco in the fourth quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco in the third quarter valued at $43,000. Quarry LP boosted its holdings in Watsco by 57.9% in the third 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. Finally, Brooklyn Investment Group purchased a new position in Watsco in the third quarter valued at $48,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.86% of the company's stock.

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Watsco Stock Performance

NYSE WSO traded up $2.37 during trading on Monday, reaching $511.27. 176,183 shares of the company's stock were exchanged, compared to its average volume of 248,333. The stock has a market cap of $20.66 billion, a P/E ratio of 38.59 and a beta of 0.92. The company has a 50 day moving average price of $489.58 and a two-hundred day moving average price of $495.31. Watsco, Inc. has a 1 year low of $396.82 and a 1 year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.67 billion. Research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, January 17th. Watsco's payout ratio is currently 81.51%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Loop Capital lifted their target price on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $486.25.

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.