Watsco, Inc. (NYSE:WSO) is Boston Financial Mangement LLC's 2nd Largest Position

Boston Financial Mangement LLC grew its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,412 shares of the construction company's stock after purchasing an additional 1,147 shares during the quarter. Watsco makes up 4.9% of Boston Financial Mangement LLC's holdings, making the stock its 2nd biggest position. Boston Financial Mangement LLC owned about 0.85% of Watsco worth $162,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its stake in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after buying an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after purchasing an additional 62,041 shares during the last quarter. State Street Corp grew its position in shares of Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock valued at $286,520,000 after purchasing an additional 11,250 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

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

Watsco Trading Down 3.3 %

Watsco stock traded down $17.09 during mid-day trading on Friday, hitting $498.12. The company's stock had a trading volume of 286,029 shares, compared to its average volume of 248,613. The stock's fifty day moving average is $484.75 and its two-hundred day moving average is $492.16. The firm has a market capitalization of $20.11 billion, a PE ratio of 37.59 and a beta of 0.95. Watsco, Inc. has a 1 year low of $380.58 and a 1 year high of $571.41.

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

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco's dividend payout ratio is presently 81.51%.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.86% of the company's stock.

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.