Adell Harriman & Carpenter Inc. Takes Position in Watsco, Inc. (NYSE:WSO)

Adell Harriman & Carpenter Inc. purchased a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 913 shares of the construction company's stock, valued at approximately $433,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of 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 purchasing an additional 346,470 shares in the last quarter. International Assets Investment Management LLC increased its holdings in 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 valued at $114,924,000 after buying an additional 233,167 shares during the period. Benjamin Edwards Inc. raised its stake in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock worth $52,880,000 after buying an additional 102,640 shares in the last quarter. State Street Corp lifted its holdings in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after buying an additional 65,846 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after acquiring an additional 63,254 shares during the period. Institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WSO. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a "market perform" rating on the stock. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Robert W. Baird raised their price objective on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $495.00.

Watsco Trading Down 3.7 %

Shares of NYSE:WSO traded down $19.64 on Wednesday, hitting $511.11. 521,635 shares of the company were exchanged, compared to its average volume of 243,351. The stock's 50 day moving average price is $484.90 and its 200 day moving average price is $491.75. The firm has a market capitalization of $20.64 billion, a P/E ratio of 39.50 and a beta of 0.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. On average, equities analysts predict that Watsco, Inc. will post 13.03 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.11%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.86% of the company's stock.

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.